U.S. Stocks Edge Up Amid Israel-Iran Tensions
(MENAFN) On Monday, U.S. stock markets rebounded strongly as investors began to shake off the initial shock triggered by the escalating conflict between Israel and Iran. The Dow Jones Industrial Average climbed 0.75%, adding 317.30 points to close at 42,515.09. Meanwhile, the Nasdaq Composite surged 1.52% to end the day at 19,701.21, and the S&P 500 advanced 0.94%, finishing at 6,033.11.
Tensions in the Middle East intensified following Israel’s coordinated airstrikes on Friday targeting multiple locations in Iran, including military and nuclear facilities. In retaliation, Tehran launched missile strikes, escalating the regional conflict and unsettling global markets. Brent crude oil prices spiked roughly 11%, while gold prices surged past the $3,450 mark, reflecting a flight to safety.
Despite the ongoing hostilities, market sentiment was bolstered by Iran’s unexpected decision not to close the strategically vital Strait of Hormuz, a move that had been widely anticipated. This development helped ease some pressure on oil prices, which retreated 2.27% on Monday.
Casualty reports from both sides underscore the severity of the conflict. Israeli officials confirmed that at least 24 people have died and hundreds have been injured in missile attacks originating from Iran since Friday. Iran, in turn, reported a death toll of at least 224 with over 1,000 wounded due to Israeli strikes.
Adding to market optimism, U.S. President Donald Trump expressed confidence in progress toward resolving trade disputes with Canada. Speaking from Canada, where he was attending a summit hosted by Canadian Prime Minister Mark Carney, Trump called a trade deal "achievable."
He elaborated, "I'm a tariff person. I've always been a tariff person. It's simple, it's easy, it's precise, and it just goes very quickly. And I think Mark has a more complex idea, but also very good." Trump also noted that disagreements between the two countries revolve around which "concept" to adopt to end the trade conflict, with delegations working to "get to the bottom of it today." He emphasized, "Both parties have to agree."
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