Stocks on Wall Street drifted to a mixed close Monday as oil prices fell after the U.S. and Iran paused their attacks while work resumed on restarting negotiations to end the war.
The S&P 500 rose less than 0.1% after spending much of the day bouncing between small gains and losses. The benchmark index was coming off two weekly losses in a row. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite fell 0.2%, its fourth straight loss.
The three major stock indexes are on pace to close out this month in the red. It would be the second straight monthly loss for the S&P 500 and Nasdaq.
Oil prices reversed course from a week ago, when a sharp escalation in fighting between the U.S. and Iran worsened worries about global oil supplies. The price of Brent crude, the international standard, dropped 6.3% to settle at $85.87 a barrel for October delivery. Prices surged to over $100 a barrel last week before easing.
U.S. crude oil for September delivery fell 7.5% to settle at $82.61 a barrel.
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