US stocks closed mixed amid military tensions

US equities ended the first trading session of the week on a mixed note, with the market’s main index stabilizing as investors engaged in heavy buying to capitalize on lower prices following the joint strikes carried out by the US and Israel on Iran.

The Dow Jones Industrial Average inched down 0.15%, or 73 points, to 48,904 points. The broader S&P 500 index remained stable at 6,881 points, while the Nasdaq Composite gained 0.36%, or 80 points, to 22,748 points.

In Europe, the Stoxx Europe 600 index fell 1.61% to 623 points at the close, amid negative performance across major bourses.

The UK’s FTSE 100 dropped 1.20% to 10,780 points, Germany’s DAX lost 2.56% to 24,638 points, and France’s CAC 40 shed 2.17% to 8,394 points.

In Japan, the Nikkei 225 closed 1.35% lower, at 58,0057 points after falling more than 2.5% during trading, while the broader Topix index declined 1% to 3,898 points.

In oil markets, Brent crude futures for May delivery soared 6.68%, or $4.87, to $77.74 per barrel after touching $82.37 during trading.

US Nymex crude futures for April delivery climbed 6.28%, or $4.21, to $71.23 per barrel.

As for gold, futures for April delivery gained 1.21%, or $63.70, to $5,311.60 per ounce.

What Drove Markets?

Investors moved to buy shares of technology companies with strong cash positions and resilience against war-related fallout, alongside energy firms, military industries, and defense technology companies, supporting overall market performance.