Stocks clung to gains on Monday, as investors continued to hope for a deal to end the war between the U.S. and Iran, despite both countries rejecting a ceasefire proposal. This comes after President Donald Trump threatened to strike Iran's power plants and bridges if the country doesn't reopen the Strait of Hormuz by Tuesday at 8 p.m. E.T. All three major indexes settled higher despite the threats and climbing oil prices, with the S&P 500 and Nasdaq notching fourth-straight gains. The Cboe Volatility Index (VIX) settled higher as well, marking its first gain in five sessions.
Oil, Gold Prices Rise Slightly
Oil prices edged higher on Monday after the U.S.-Iran ceasefire proposal failed, with President Trump's deadline for a deal to end the war approaching quickly. Front-month May-dated West Texas Intermediate (WTI) added 0.8% to finish at $112.54 per barrel.
Gold prices settled near breakeven as traders continued to weigh the latest geopolitical developments. April-dated gold rose 0.1% to finish at $4,684.70 an ounce for the day.
Comments
Log in or sign up to join the conversation.