Market Highlights

Wall Street staged a cautious advance, with stocks rising as traders tried to look through the potential implications of higher oil prices to inflation as the war in Iran showed no signs of abating. While most shares in the S&P 500 climbed, the index saw a modest gain. US crude eased from session highs, but settled above $96. Airlines jumped after some executives cited strong bookings as travelers rush to lock in fares ahead of a potential increase in fuel costs. Bond yields fell alongside the dollar on the eve of the Federal Reserve decision. Equities rallied for a third day as renewed optimism around artificial intelligence underpinned risk appetite before Wednesday’s Federal Reserve meeting. Oil and the dollar fell.

A slide in oil prices lifted stocks and bonds on hopes that more tankers will be able to traverse the Strait of Hormuz, with signals that rich nations could release more stockpiles also helping sentiment. While traffic through Hormuz remains at a near-standstill amid the war in the Middle East, US crude settled at $93.50 as a trickle of vessels started to find a way through the oil route. The S&P 500 rose 1%. Tech led the advance, with Nvidia Corp. climbing 1.6% as it expects to make at least $1 trillion from artificial-intelligence chips through the end of 2027. A brief revival in global equities led by technology shares looked set to falter heading into the European session as increasing tensions in the Middle East pushed up crude oil prices.

Volatility gripped Wall Street, with stocks falling and oil jumping to an over three-year high as the war in Iran raged on. A rally in bonds waned as higher energy prices stoked inflation angst. The S&P 500 erased a nearly 1% gain, with the US stepping up strikes on Iran to unprecedented levels as both sides threatened to escalate a conflict hitting its two-week mark. Brent closed above $100. After climbing in the aftermath of sluggish economic data, Treasuries lost steam, with longer-term maturities underperforming. The plunge in a gauge of megacaps from a record topped 10%. The dollar rose to its highest since December. Equity markets stabilized and crude oil gave up part of its early surge as President Donald Trump raised pressure on nations to help reopen the Strait of Hormuz and said the US was talking to Iran.

A renewed oil spike stoked fears the war in Iran will further crimp energy supplies and fuel inflation, spurring a slide in stocks, which were also hit by signs of distress in the $1.8 trillion private-credit market. Brent closed above $100 for the firsttime since 2022, with the Strait of Hormuz blockage choking off flowsthrough the trade artery. The S&P 500 fell 1.5% to the lowest since November. Banks sank as redemption requests from private-credit funds forced Morgan Stanley and Cliffwater LLC to cap withdrawals. Deutsche Bank AG flaggeda $30 billion exposure to the sector. A gauge of megacaps approached the threshold of a correction. In late hours, Adobe Inc. gave a tepid outlook and said its chief will resign. GA selloff in global stocks eased as oil prices steadied after a volatile stretch, though investors remained wary of risks from the Iran war heading into the weekend.

Wall Street traders parsing geopolitical headlines kept a lid on stocks and bonds, with oil jumping as a move from rich nations to deploy reserves was considered just a reprieve amid the war in Iran. US crude topped $87 despite the International Energy Agency’s approval of its largest-ever release of emergency stockpiles. Relatively tame inflation data from before the outbreak of the conflict failed to boost risk appetite, with the S&P 500 wavering. Treasuries slid, leaving traders anticipating the Federal Reserve will cut rates only once this year. Global stocks retreated as oil rallied after an attack on tankers in Iraqi waters highlighted the threat to energy infrastructure in the Middle East and stoked concerns of an escalating conflict.

Volatility whipsawed stocks as traders parsed conflicting signals about the outlook for oil supplies as the war in Iran rattles energy markets. In late hours, Oracle Corp. jumped on a strong sales forecast. The S&P 500 wiped out its advance. US crude trimmed a plunge that briefly drove it below $80 as the White House said no tanker has been escorted by the navy through the Strait of Hormuz, refuting an earlier, since-deleted social media post by Energy Secretary Chris Wright. Oil still sank 12%, the most since 2022, as big economies mull deploying stockpiles to avoid a crunch. Stocks rose and oil held below $90 a barrel after a report on the proposed release of oil reserves to ease higher energy prices boosted market confidence, following recent volatility across assets.

Wall Street staged a dramatic comeback, with stocks and bonds rebounding on hopes the 10- day-old Iran war may be nearing a conclusion. Oil tumbled in post-settlement trading after earlier topping $100. The S&P 500 climbed 0.8% as President Donald Trump told CBS the conflict is “very complete, pretty much” and the military operation is “very far” ahead of its initial four- to five-week timeframe. The equity benchmark erased an intraday loss of over 1.5% for the first time since April. US crude dropped to around $87 in late hours. Ten-year Treasury yields halted a five-day increase. Stocks rose and crude oil fell as President Donald Trump signaled the Iran war may be nearing an end, helping boost sentiment after Monday’s selloff in risk assets.

A weak jobs report hit stocks at a time when a widening war in the Middle East is lifting oil prices and fueling inflation jitters. Anxiety about the private-credit industry also reduced risk appetite. Bitcoin tumbled. Friday’s 1.3% slide in the S&P 500 sent the gauge to its worst week since October. Financial shares sank, with BlackRock Inc. down 7.7% after curbing withdrawals from a private-credit fund. Chipmakers plunged as Oracle Corp. and OpenAI scrapped plans to expand an artificial-intelligence data center in Texas. US oil topped $90, notching its biggest-ever weekly gain. Short-dated bonds outperformed as traders boosted bets on Federal Reserve rate cuts A global bond rout showed no respite, with the 10-year Treasury yield rising for a fourth straight day on concern that higher oil prices will fuel inflationary pressures that could hinder the Federal Reserve’s ability to cut rates. In the run-up to the payrolls report, data showed jobless claims are settling around some of the lowest levels in the last year amid a low-firing environment. Friday’s employment report is expected to show hiring moderated last month after a strong reading in January while unemployment held steady.

A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. Bitcoin topped $73,000. Oil whipsawed. Equities rose as data showed the US service economy expanded at the fastest pace since mid-2022 while a price index hit an almost one-year low. A megacap rally lifted the market, with the Nasdaq 100 up 1.5%. In late hours, Broadcom Inc.’s outlook underwhelmed investors, but the firmannounced plans to buy back as much as $10 billion in shares through the end 2026 A global equity rebound that saw Asian shares rise for the firsttime since the Iran war began looks set to falter going into Europe as Middle-East tensions rise and stresses mount in energy markets.

A selloff in stocks and bonds was trimmed as assurances on American action to secure shipping lanes through the Strait of Hormuz amid the Iran war pared what had been an over 9% surge in oil. Following an earlier slide in the S&P 500 that reached 2.5%, the equity benchmark dropped less than 1%. President Donald Trump said the US will escort and insure tankers and other vessels through the world’s most-critical energy chokepoint. Oil prices waned in post-settlement trading, with Brent trading near $80 a barrel. Asian stocks plunged the most in nearly a year, led by the biggest South Korean crash ever, as mounting concerns over the Iran war triggered an exodus from some of the world’s best- performing markets.