Wall Street Stocks Rise Amid Easing Mideast Tensions

Stocks on Wall Street opened higher Monday, despite concerns over escalating tensions in the Middle East.

The US and Iran paused their attacks while work resumed on restarting negotiations to end the war. As a result, crude oil prices dropped 6.6% to $85.63 a barrel for October delivery after surging to over $100 last week.

Markets rose in Europe and Asia following the development, with the S&P 500 falling 0.2%. The Dow Jones Industrial Average rose 155 points or 0.3%, while the Nasdaq composite fell 0.4%.

The war has had a ripple effect on the global economy, leading to higher gasoline prices and shipping costs for most goods. Businesses have been passing these costs along to households.