Stocks Rise Anew as Crude Oil Trims Its Advance: Markets Wrap
(Bloomberg) — A renewed wave of stock buyers lifted the market after a rally in oil eased, bringing a degree of relief to traders worried about the impacts of energy costs on inflation and the economy as the war in Iran drags on.
More than 400 shares in the S&P 500 advanced, with the index rising for a second straight session. US oil pared most of an earlier surge to trade around $95. US airlines jumped as some executives cited strong bookings as travelers rush to lock in fares ahead a potential rise in fuel costs. Qualcomm Inc. gained on plans to buy back $20 billion worth of shares and boost its dividend.
Bond yields dropped alongside the dollar on the eve of the Federal Reserve decision. With officials widely expected to hold interest rates steady on Wednesday, attention shifts how they may respond if the fallout from war in the Middle East pulls their policy goals in opposite directions.
President Donald Trump reiterated his appeals for other nations to help secure the Strait of Hormuz, saying Iran was nearly obliterated even as the war keeps roiling oil markets and global shipping. Israel said it killed Iran’s security chief, Ali Larijani, in an overnight strike, intensifying a region-wide war that shows no sign of abating.
The development came after Iran set a massive natural gas field in the United Arab Emirates ablaze overnight as it steps up attacks on key energy sites.
“There is a growing sense that markets are trying to look through the current tensions,” said Fawad Razaqzada at Forex.com. “A credible multinational effort would likely push oil lower and equities higher — but the best outcome would be to end the war and soon.”
The stock market is trying to find a bottom amid this geopolitical-driven pullback, according to Rick Gardner at RGA Investments. While he says the conflict could go on for some time, that doesn’t mean the stock market would follow suit.
“Stocks tend to move ahead of various events, like wars, well before they are over,” Gardner noted. “Valuations in stocks remain attractive, creating a potentially attractive entry point for investors looking to put new money to work.”
Corporate Highlights:
Artificial intelligence data center developer Nebius Group NV said it intends to raise about $3.75 billion in convertible debt on the heels of a commercial deal with Meta Platforms Inc. Mastercard Inc. said it will acquire the stablecoin infrastructure startup BVNK for as much as $1.8 billion, four months after negotiations between BVNK and Coinbase Global Inc. for a roughly $2 billion deal fell apart. Eli Lilly & Co. dipped after HSBC turned bearish on the stock, saying investor expectations for weight-loss drugs are over inflated. Kraft Heinz Co. is rolling out a series of healthier products to bolster some of its lagging brands, the first phase in the company’s efforts to revitalize growth after pausing its plans to split. Intercontinental Exchange Inc. is seeking to create data infrastructure for the private-credit market in partnership with Apollo Global Management Inc., as companies plot ways to bring more transparency to the opaque market. LG Energy Solution Ltd. said it will produce $4.3 billion worth of batteries in Michigan for Tesla Inc.’s energy storage systems business. Some of the main moves in markets:
Stocks
The S&P 500 rose 0.5% as of 10:15 a.m. New York time The Nasdaq 100 rose 0.6% The Dow Jones Industrial Average rose 0.5% Currencies
The Bloomberg Dollar Spot Index fell 0.2% The euro rose 0.2% to $1.1529 The British pound rose 0.2% to $1.3346 The Japanese yen was little changed at 158.93 per dollar Cryptocurrencies
Bitcoin fell 0.7% to $73,737.01 Ether fell 0.6% to $2,331.11 Bonds
The yield on 10-year Treasuries declined two basis points to 4.20% Germany’s 10-year yield declined four basis points to 2.91% Britain’s 10-year yield declined seven basis points to 4.70% Commodities
West Texas Intermediate crude rose 2% to $95.34 a barrel Spot gold rose 0.2% to $5,017.15 an ounce ©2026 Bloomberg L.P.
