S&P 500 Trades Flat Amid Ongoing US-Iran Tensions

The S&P 500 ended nearly flat on September 24 as investors focused on US-Iran tensions, despite some market volatility. Microsoft shares dipped while Meta Platforms rose after a report about the company's new AI assistant.

Brent crude prices surged over 3% to almost $107 per barrel after a Houthi missile attack on Saudi Arabia revived supply disruption fears. This led to higher Treasury yields and increased expectations of another interest rate hike by the Federal Reserve.

New York Fed president John Williams said it was reasonable for the central bank to raise rates again before the end of the year. Traders now price in a nearly 70% chance of a hike in October, according to the CME FedWatch Tool.