The US stock markets exhibited mixed performance on Monday. While the broader S&P 500 managed a gain of 0.1 percent, reaching approximately 7,174 points, the Dow Jones closed lower by 0.1 percent at 49,168 points. Meanwhile, the technology-focused Nasdaq 100 registered a slight gain of a few points, settling near 27,306 points.
Market sentiment was weighed down by concerns over stalled negotiations between the US and Iran, compounded by the continued blockage of the Strait of Hormuz. Analysts warn that if tensions escalate, oil prices could climb significantly above their current levels. Although Tehran put forward a proposal to reopening the strait while deferring discussions on its nuclear program-a gesture echoing regional concerns-Indonesia is now considering taxing the Malacca Strait, similar to Iran’s model, which would affect roughly 40 percent of global trade.
In currency markets, the European common currency strengthened slightly by the end of the day; the euro traded at $1.1721, meaning the dollar was worth 0.8532 euros.
Commodity prices showed divergent trends. Gold slipped, trading weaker at $4,679 per fine ounce, representing a 0.6 percent decrease, which equates to 128.35 euros per gram. Conversely, oil prices rose sharply. At 108.10 US dollars per barrel for the North Sea Brent grade, oil increased by 2.6 percent compared to the close of the previous trading day.