US stocks notch second straight record close as oil rises

US stocks closed higher on Monday, with the S&P 500 and Nasdaq posting record highs for a second straight session, while the Dow Jones came under pressure as US-Iran peace talks faltered and the Strait of Hormuz remained closed.

The Dow Jones Industrial Average fell 0.13%, or 62 points, to 49,167. The S&P 500 rose 0.12%, or 8 points, to 7,173, while the Nasdaq Composite gained 0.20%, or 50 points, to 24,887, with both indexes marking fresh record closes.

The Stoxx Europe 600 fell 0.30% to 608 points, erasing gains made earlier in the session.

The UK’s FTSE 100 declined 0.56% to 10,321 points, Germany’s DAX fell 0.19% to 24,083 points, and France’s CAC 40 slipped 0.19% to 8,141 points.

In Japan, the Nikkei 225 ended the session up 1.38% at 60,537 points, extending its gains so far this year to 18.6%, while the broader Topix rose 0.50% to 3,735 points.

In oil markets, Brent crude futures for June delivery rose 2.75%, or $2.90, to $108.23 a barrel.

US Nymex crude futures for June delivery climbed 2.10%, or $1.97, to $96.37 a barrel.

As for gold, futures for the precious metal for June delivery fell 1%, or $47.20, to $4,693.70 an ounce.

The faltering diplomatic track between the US and Iran kept oil prices elevated, weighing on financial markets as investors monitored the earnings season and awaited the Federal Reserve meeting scheduled for this week.

US stocks hit record close for second straight session