US stocks were higher on Monday, erasing most of the losses from the previous session as markets reconsidered fears that the conflict between Israel and Iran would trigger global economic shocks. The S&P 500 and the Dow were around 0.7% higher, while the tech-heavy Nasdaq 100 added more than 1%.
Hostilities between Tehran and Tel-Aviv persisted after exchange of strikes, but softer concerns that allies would join the conflict or that strikes would hamper global energy supply supported a rebound in risk sentiment.
On the macroeconomic front, the FOMC is set to hold rates this week and their SEP will unveil how uncertainty on fiscal spending and tariffs impact their policy outlook.
Tech led the gains with Meta and Tesla adding 3% each, while Palantir soared 4% on the military focus. US Steel jumped as much as 5% after President Trump formally approved Nippon Steel's $14.1 billion acquisition of the company. Also, Roku jumped 11% after announcing its partnership with Amazon Ads.
Source: Trading Economics
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