NEW YORK (AP) — U.S. stocks are swinging again Monday as oil prices keep climbing because of uncertainty about when the war with Iran could end.
The S&P 500 inched up by 0.1% in morning trading, coming off its worst week since the war with Iran began. The Dow Jones Industrial Average was up 164 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.
That followed gains for stock markets in much of Europe, but caution was still prevalent throughout financial markets. On Wall Street, the S&P 500 quickly gave up nearly all its gain of 0.9% from the start of trading. Stocks in some Asian markets fell sharply, while the price for a barrel of Brent crude delivered in June rose 3.2% to $108.73.
The mixed movements followed a whirlwind of action in the war over the weekend, none of which cleared up when the fighting may end. The main issue for investors worldwide is whether oil and natural can resume their full flow from the Persian Gulf to customers and prevent a brutal blast of inflation.
Shortly before the U.S. stock market opened for trading Monday, President Donald Trump said on his social media network that “great progress has been made” with “A NEW, AND MORE REASONABLE, REGIME to end our Military Operations in Iran.”
