U.S. Stocks Surge as Oil Prices Fall
(MENAFN) US equity markets closed higher on Monday, buoyed by a decline in oil prices despite persistent geopolitical unrest in the Middle East.
Markets showed resilience as Iran launched a missile strike on Al Udeid Air Base in Qatar, the largest U.S. military installation in the region, in retaliation for Sunday’s American airstrikes targeting three of Iran’s nuclear facilities.
President Donald Trump took to social media to express gratitude toward Iran for providing advance warning of the missile attack, which he credited with preventing casualties.
“Perhaps Iran can now proceed to peace and harmony in the region, and I will enthusiastically encourage Israel to do the same,” Trump stated.
Following Iran's missile launch, which caused no injuries or fatalities, crude oil prices dropped sharply.
Brent crude futures tumbled approximately 7.2%, settling at $71.48 per barrel.
The Dow Jones Industrial Average surged by 0.89%, adding 374.96 points to close at 42,581.78.
Meanwhile, the Nasdaq Composite climbed 0.94%, gaining 183.56 points to reach 19,630.98, and the S&P 500 advanced 0.96%, up 57.33 points to finish at 6,025.17.
Investor anxiety eased as the VIX, often called the “fear index,” decreased 3.83% to 19.83.
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