Wall Street Stocks Drift as Oil Prices Plummet Amid US-Iran Tensions

Stocks on Wall Street traded in a mixed fashion Monday as oil prices plummeted after the United States and Iran paused their attacks, allowing negotiations to restart.

The S&P 500 index rose less than 0.1% despite coming off two consecutive weekly losses. The Dow Jones Industrial Average increased by 0.5%, while the Nasdaq composite dropped 0.2%, its fourth straight decline.

The three major stock indexes are on track to close out July in the red, marking a second consecutive monthly loss for both the S&P 500 and Nasdaq.

Crude oil prices took a hit, with Brent crude falling 6.3% to $85.87 per barrel for October delivery. U.S. crude oil for September delivery dropped 7.5% to $82.61 per barrel.