US stocks end flat amid rising geopolitical uncertainty

US stocks ended largely flat on Monday as doubts grew over the prospects of a near-term resolution to the conflict between the US and Iran, while investors awaited developments on the reopening of the Strait of Hormuz.

The Dow Jones Industrial Average inched down 0.11%, or 60 points, to 53,975. The broader S&P 500 remained unchanged at 7,753, while the Nasdaq Composite lost 0.32%, or 85 points, to 26,605.

Across the Atlantic, the pan-European STOXX Europe 600 Index remained stable at a record of 660, as optimism over strong Q2 earnings offset concerns over the reopening of the Strait of Hormuz.

The UK's FTSE 100 slipped 0.35% to 10,862, Germany's DAX was unchanged at 26,323, while France's CAC 40 gained 0.13% to 8,726.

In Japan, the Nikkei 225 climbed 2.10% to 66,970, while the broader Topix Index advanced 0.65% to 4,100.

In oil markets, Brent crude futures for October delivery added 5%, or $4.17, to settle at $87.72 a barrel.

US WTI crude futures for September delivery surged 5%, or $3.95, to 82.13 a barrel.

Gold futures for December delivery edged up 0.45%, or $20, to $4,419.70 per ounce.

Risk appetite weakened as hopes faded for a near-term agreement to reopen the Strait of Hormuz, while a decline in technology stocks at the start of the week added pressure on Wall Street despite strong corporate earnings.