Stocks were mixed on Tuesday as the U.S. deadline for Iran to reopen the Strait of Hormuz sat mere hours away. Investors were hopeful for a deal after Pakistan’s Prime Minister Shehbaz Sharif asked President Donald Trump to delay the potential attack of Iran's power plants and bridges by two weeks in exchange of a temporary reopening of the Strait.
The tech sector demonstrated strength today, but the Dow still settled lower. The Nasdaq and S&P 500 pivoted higher in the last hour of trading to nab fifth-straight gains. Meanwhile, Wall Street's fear gauge -- the Cboe Volatility Index (VIX) -- settled back above 25.
Oil Prices Climb Amid More Trump Threats
Oil prices settled higher after President Donald Trump's threats toward Iran. Front-month May-dated West Texas Intermediate (WTI), now the front-month contract, rose 54 cents to finish at $112.95 per barrel.
Gold prices fell as the U.S. deadline for Iran to reopen the Strait of Hormuz approached. April-dated gold shed 0.4% to finish at $4,664 an ounce for the day.
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