US Stocks Waver Amid US-Iran Tensions and Oil Price Surge
US stocks wavered on Monday as oil prices and Treasury yields surged amid concerns about an escalation in the US-Iran war.
The Dow Jones Industrial Average (^DJI) declined 0.5%, while the S&P 500 (^GSPC) fell 0.4% after its third straight weekly gain. The tech-heavy Nasdaq Composite (^IXIC) dropped 0.3% following a relatively calm week on Wall Street.
The stock market's decline was triggered by rising oil prices, with Brent crude (BZ=F) futures hitting $90 per barrel. President Trump's comments on the US-Iran conflict and his threat to Oman also contributed to the market's volatility.
Investors are awaiting retail earnings this week, including reports from big-box stores such as Walmart (WMT), Target (TGT), Lowe's (LOW), and Home Depot (HD). The Federal Open Market Committee meeting minutes, set for release on Wednesday, may provide further insight into the Fed officials' thinking.