A welcome reprieve from Friday's steep drop, a pullback in oil and treasury yields helped boost markets to start the week. Investors are also hopeful there's progress between the U.S. and allies in building a coalition to escort tankers through the Strait of Hormuz.
Both the Dow and S&P 500 snapped four-day losing streaks, the latter logging its best session since Feb. 6. The tech-heavy Nasdaq also sported a healthy win, with every single Magnificent Seven stock finishing in the black. Elsewhere, Wall Street's 'fear gauge,' the Cboe Volatility Index (VIX), marked its worst session in a week.
Crude, Gold Pull Back From Recent Gains
Oil prices continued to cool, though President Donald Trump expressed frustration from countries unwilling to join his Hormuz escort coalition. April-dated West Texas Intermediate (WTI) crude shed 5.3% to close at $100.21 per barrel for the day.
A softening U.S. greenback alongside stabilizing inflation fears sent gold futures inching lower. April-dated gold futures fell 1.1% to settle at $5,004.90 an ounce.
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