Market Highlights

Relative calm returned to global markets, with stocks climbing and oil sinking alongside gold as fears subsided that Israel’s war against Iran would escalate into a wider conflict. News reports that Tehran wants to restart talks over its nuclear program also fueled risk-on sentiment. Equities bounced after Friday’s slide, with the S&P 500 up about 1%. West Texas Intermediate settled below $72 a barrel after spiking at the start of the session. The dollar was little changed. Longer-maturity Treasuries continued to lag the market even after a $13 billion sale of 20-year bonds drew the expected yield level — a notable improvement from last month’s auction disappointment that spurred a broad selloff.