FX.co ★ US Equities Rise as Iran Retaliation Appears Limited

U.S. stocks ended on a positive note Monday due to a significant drop in oil prices following Iran's missile attack on a U.S. airbase in Qatar. This action was in retaliation for American attacks on its nuclear sites. The S&P 500 and the Nasdaq each climbed 0.9%, while the Dow Jones Industrial Average saw an increase of 374 points, allaying fears of substantial oil supply interruptions. U.S. oil prices plummeted by over 7% after the missile attack—reportedly intercepted with no casualties—led to a sharp decline in energy stocks. Specifically, ExxonMobil and Chevron saw declines of 2.6% and 1.8%, respectively. The response from Iran was perceived as moderate since there was no direct targeting of key energy assets or interference with the Strait of Hormuz. President Trump contributed to the pressure on crude prices by urging oil producers via social media to "keep prices down." In corporate news, Tesla experienced an 8.2% surge after unveiling its first fleet of driverless taxis. Additionally, AMD increased by 1% following an optimistic research assessment, buoying the broader technology sector.