


Calm returned to Wall Street on Monday, and U.S. stocks rose, while oil prices gave back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.
The S&P 500 climbed 0.9% to reclaim most of its drop from Friday. The Dow Jones industrial average rose 317 points, or 0.8%, and the Nasdaq composite gained 1.5%. They joined a worldwide climb for stock prices, stretching from Asia to Europe.
Israel and Iran are continuing to attack each other, and a fear remains that a wider war could constrict the flow of Iran’s oil to its customers. That in turn could raise gasoline prices worldwide and keep them high.
A barrel of benchmark U.S. oil fell 1.7% to $71.77, while Brent crude, the international standard, dropped 1.3% to $73.23 per barrel. They had both jumped roughly 7% on Friday after the initial attacks.
In another signal of calming fear in financial markets, the price of gold also gave back some of its knee-jerk climb from Friday, falling 1% to $3,417.30.
In the bond market, the yield on the 10-year Treasury rose to 4.45% from 4.41% late Friday
On Wall Street, Sage Therapeutics jumped 35.4% for one of the market’s biggest gains after Supernus Pharmaceuticals said it would buy the biopharmaceutical company in a deal worth up to $795 million, or $12 per share, if certain conditions are met.
U.S. Steel rose 5.1% after Trump signed an executive order on Friday paving the way for an investment in the company by Japan’s Nippon Steel. Trump would have unique influence over the operations of U.S. Steel under the terms of the deal.
They helped offset drops for defense contractors, which gave back some of their jumps from Friday. Lockheed Martin fell 4%, and Northrop Grumman sank 3.7%.
All told, the S&P 500 rose 56.14 points to 6,033.11. The Dow added 317.30 to 42,515.09, and the Nasdaq composite gained 294.39 to 19,701.21.
— Associated Press