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US Stocks Mixed as Iran-War Uncertainty Lifts Oil Prices
Oil climbed as tanker disruption in the Strait of Hormuz kept investors focused on supply risks, while big U.S. companies continued to beat profit forecasts.
Summary
The U.S. stock market’s record-breaking rally is slowing on Monday after uncertainty rose over the weekend about what will happen next in the Iran war, while oil prices are rising. The S&P 500 was virtually unchanged, coming off its latest all-time high driven by strong profit reports from U.S. companies and hopes that the United States and Iran can avoid a worst-case scenario for the economy because of their war. The Dow Jones Industrial Average was down 7 points, or less than 0.1%, as of 10 a.m. Eastern time, and the Nasdaq was 0.2% lower after setting its own record.