Stock market today: Live updates

Stocks rose on Monday while oil prices fell as Wall Street tried to recover from another falling week, with investors keeping an eye on the latest developments in the Iran war.

Dow Jones Industrial Average Added 575 points or 1.2%. S&P 500 increased by 1.3%, and nasdaq composite There was an increase of 1.4%.

meta Shares rose more than 2% on a report – which the company called “speculative” – that it planned to lay off more than 20% of its workforce. moreover, NVIDIA Shares rose more than 2% ahead of the GTC conference starting on Monday.

The move comes after the S&P 500 declined for the third consecutive week and closed at its lowest level of the year on Friday.

Oil prices surged last week, with Brent crude rising above $100 a barrel for the first time since 2022. Traffic in the Strait of Hormuz, a vital shipping route, has been effectively halted since the war began, causing crude to surge.

In Monday trading, WTI crude was down 4%, trading below $95 a barrel. Its trading went above $100 per barrel overnight. Brent crude fell 2% to about $101 a barrel.

Oil prices fell after Treasury Secretary Scott Besant told CNBC on Monday that the US is allowing Iranian oil tankers to pass through the Strait of Hormuz. The US will soon announce a coalition of countries to move ships through the strait to help get the oil out, the Wall Street Journal reported, citing officials.

President Donald Trump on Friday ordered an attack on Iran’s military assets located on Kharg Island. Although the attack did not hit oil infrastructure, Trump said the US would consider attacking those structures if Iran continued to block the strait.

Trump also told NBC over the weekend that Iran wants to make a deal, but it is not ready yet.

“The market thinks we have the upper hand in Iran and they’re going to make a deal and it could happen this week,” Wharton’s Jeremy Siegel said on CNBC’s “Squawk Box” on Monday. “Obviously, there’s a lot of uncertainty here, but certainly … the market is thinking about something right now.”

However, stock selling has been relatively controlled despite geopolitical tensions. The S&P 500 is down just 5% from its all-time high reached earlier this year.

“The apparent resilience in the S&P 500 is due to the increasing bullishness of industry analysts’ consensus estimates for earnings per share in 2026 and 2027,” wrote Ed Yardeni, president of Yardeni Research. “Apparently, they didn’t get the memo about the potential negative consequences of a protracted war and the closing of the strait.”