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The S&P 500 ended Monday just above the the flatline, rebounding from sharp declines earlier in the day, as investors bought the dip following U.S. and Israel strikes on Iran over the weekend.
The Dow Jones Industrial Average declined 73.14 points to 48,904.78.
The much-broader edged ahead 2.72 points to 6,881.60.
The NASDAQ regained 80.65 points to 22,748.86.
The S&P 500 inched up 0.04% after falling 1.2% at its lows. The NASDAQ Composite was higher by 0.36% after declining 1.6% at the low.
The Dow was lower by 73 points, or 0.15%. At its lows the Dow was down nearly 600 points.
Nvidia shares gained 3%, and Microsoft was up by more than 1%. Bank shares and other hard-hit stocks tied to the economy like Caterpillar were well off their lows with many trading higher.
The joint U.S.-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei, marking a watershed moment for the Islamic Republic and one of its most consequential episodes since 1979. Iranian officials vowed a forceful retaliation against the strikes, raising fears the conflict could escalate further across the region as blasts were heard in places such as Dubai and Abu Dhabi.
President Donald Trump told the media that U.S. military operations in Iran are “ahead of schedule,” but investors are still worried about a prolonged conflict despite those comments.
The three major averages rallied off their nadirs as gains in technology stocks such as Nvidia and Microsoft helped trim the losses. The NASDAQ was down as much as 1.6% at one point, while the S&P 500 and Dow pulled back around 1.2% each at their session lows.
On top of tech, a rise in defense stocks helped the major averages recoup a chunk of their losses. Northrop Grumman advanced around 4%, as did RTX, while Lockheed Martin climbed 2%.
Energy shares including Exxon Mobil and Chevron saw gains as well.
Prices for the 10-year Treasury weakened, hiking yields to 4.04% from Friday’s 3.96%. Treasury prices and yields move in opposite
directions.
Oil prices ended in positive country $5.21 to $72.27 U.S. a barrel.
Gold prices regained $101.70 to $5,349.60 U.S. an ounce.
