Stock Markets Rebound as Tensions Ease, Oil Prices Dip
The US stock markets recovered from last week’s decline on Monday, with the Dow Jones Industrial Average closing at 42,515 points, a gain of 0.8 percent from the previous trading day. The broader S&P 500 index finished at approximately 6,035 points, a 0.9 percent increase, while the Nasdaq 100 closed at around 21,935 points, a 1.4 percent gain.
Investors may have found relief in the fact that the escalation of military tensions between Israel and Iran did not lead to a collapse of the oil market or significant disruptions to major trade routes. Additionally, reports emerged on Monday that the Iranian leadership had signaled a willingness to engage in talks.
Oil prices, which had surged by as much as 8 percent on Friday, retreated on Monday. A barrel of North Sea Brent crude cost around $72.91 at the evening close, a decrease of 132 cents or 1.8 percent from the previous day’s close.
The euro, the common currency of the European Union, strengthened on Monday evening, with one euro equivalent to approximately 1.1558 US dollars. Conversely, the value of the US dollar in euros was around 0.8652.
Gold prices also declined, with a troy ounce selling for around $3,384, a decrease of 1.4 percent from the previous day. This translates to a price of approximately 94.14 euros per gram.