US stocks were near the flatline on Monday as downplayed concerns that the US strike on Iran may have on energy markets and future conflict in the Middle East.
The S&P 500, the Dow Jones, and the Nasdaq 100 were all close to the flatline. US forces struck Iranian nuclear infrastructure over the weekend after US President Trump had dismissed the possibility of an imminent attack.
While the Iranian vowed aggressive retaliation and its parliament backed the blocking of the Strait of Hormuz, oil tankers so far continued to sail through the region and crude oil prices pared their increase, limiting concerns of higher inflation.
Chevron and ExxonMobil were both gaining around 2%, contrasting with the muted movements for WTI futures. In the meantime, Tesla hovered close to the flatline after rolling out some driverless taxi services to riders on Sunday. Also on the tech front, AMD gained 2% after receiving an upgrade from Melius Research.
Source: Trading Economics
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