US Stocks Post Narrowly Mixed Finish Amid Volatile Trading Following Air Strikes on Iran

US Stock Market Report: March 2

Market Overview US stocks ended near flat on Monday, despite a volatile session, as investors bought on dips after an early selloff following weekend US and Israeli air strikes on Iran.

Key Indices

• S&P 500: Gained 0.54 points, or 0.01%, to close at 6,879.42 points.
• Nasdaq Composite: Gained 72.40 points, or 0.32%, to close at 22,740.61.
• Dow Jones Industrial Average: Fell 86.89 points, or 0.18%, to close at 48,891.03.

Sector Performance

• Defense Stocks: Boosted by US and Israeli strikes on Iran, with the Dow Jones U.S. Defense Index trading up.
• Energy Stocks: Outperformed due to rising oil prices, with U.S. crude prices settling up 6% at $71.23 a barrel.
• Tech Stocks: Performed well, with investors seeking familiar, high-performing stocks like Nvidia and the Magnificent Seven technology stocks.
• Travel and Airline Stocks: Pressured by flight cancelations, higher jet-fuel costs, and Middle East airspace closures.
• AES Corp: Fell after a consortium led by BlackRock-owned Global Infrastructure Partners and EQT AB agreed to acquire the utilities company for $33.4 billion, a discount to its last close.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Global Market Trends

• European Markets: Fell more than 1%, with the French and German stock markets down.
• Asian Markets: Saw significant losses, with the Japan's Nikkei 225 sliding 1.73%.