The U.S. stock market careened through a manic Monday, going from a steep early loss to a solid gain as worries turned into hope that the war with Iran may not last that long.
Oil prices whipped from nearly $120 per barrel, their highest since 2022, back toward $90. The S&P 500 fell as much as 1.5% before flipping to a gain of 0.8%. The Dow Jones Industrial Average rose 239 points, and the Nasdaq composite climbed 1.4%.
They’re the latest hour-to-hour swings to pummel markets because of uncertainty about how high oil prices will go and how long they will stay there.
On Monday:
The S&P 500 rose 55.97 points, or 0.8%, to 6,795.99.
The Dow Jones Industrial Average rose 239.25 points, or 0.5%, to 47,740.80.
The Nasdaq composite rose 308.27 points, or 1.4%, to 22,695.95.
The Russell 2000 index of smaller companies rose 28.37 points, or 1.1% to 2,553.67.
For the year:
The S&P 500 is down 49.51 points, or 0.7%.
The Dow is down 322.49 points, or 0.7%.
The Nasdaq is down 546.04 points, or 2.3%.
The Russell 2000 is up 71.76 points, or 2.9%.
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