US Stock Market Holds Steady Amid Geopolitical Tensions

The US stock market experienced a relatively quiet day on Monday, with slight movements in major indices. The S&P 500 managed to hold above its record high set on Friday, while the Dow Jones Industrial Average and Nasdaq Composite slipped slightly.

Brent crude oil prices rose to $86 per barrel, contributing to the United States Oil Fund's 5.3% increase. The oil market is affected by ongoing geopolitical tensions in the Strait of Hormuz, which have stalled negotiations and raised concerns about supply disruptions.

Cloud and software giants, such as Microsoft, Amazon, and Meta Platforms, performed well, while Nvidia and Apple saw declines due to component cost concerns and potential margin protection. Chipmakers, including SK Hynix and Micron Technology, experienced mixed results.