Wall Street mixed as oil plunges on US-Iran pause, investors eye Fed and earnings
US stocks opened mixed as oil fell more than 6% after a US-Iran pause in military strikes. Investors now focus on the Fed’s policy decision and a heavy earnings week.
US stocks traded mixed on Monday as oil prices tumbled following a pause in military strikes between the United States and Iran, while investors turned their attention to a busy week of corporate earnings and the Federal Reserve's latest policy meeting.
Crude prices fell by more than 6% in early trading after US Ambassador to the United Nations Mike Waltz told Fox News that President Donald Trump would allow "a little bit of room" for negotiations. Separately, Iranian army spokesman Mohammad Akraminia said Tehran had also suspended military strikes.
Around 55 minutes after the opening bell, the Dow Jones Industrial Average climbed 0.7% to 52,298.68. The S&P 500 edged up 0.1% to 7,419.79, while the Nasdaq Composite slipped 0.1% to 24,957.07.
Beyond developments in the US-Iran conflict, investors are preparing for a wave of quarterly earnings from major corporations, including technology giants Amazon and Microsoft, alongside industrial heavyweights Boeing and ExxonMobil.
Market participants are also awaiting Wednesday's interest rate announcement from the Federal Reserve, its second policy decision under Chair Kevin Warsh. While Warsh has emphasized maintaining price stability, futures markets currently assign a roughly 62% probability that the central bank will leave interest rates unchanged.
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