Traders on the New York Stock Exchange faced a turbulent start to the week as S&P 500 futures dipped 0.2% on Monday night, influenced by escalating geopolitical tensions related to the ongoing conflict between the U.S. and Iran. Meanwhile, Nasdaq 100 futures fell 0.3%, and futures for the Dow Jones Industrial Average were down 85 points, marking a nearly 0.2% decline. This downturn contrasted with the previous session, where both the S&P 500 and Nasdaq Composite regained footing, closing slightly above their earlier lows. The broad-market index hovered just above the flatline, while the Nasdaq managed a gain of nearly 0.4%.
The Dow, despite suffering a decline of 73 points, or 0.15%, earlier in the session, witnessed a significant recovery from its intraday low, which had seen it plummet nearly 600 points. Investors took advantage of perceived discounts in stocks, spurred by fears that the deepening U.S.-Iran conflict would impact market stability. Notably, defense and energy sectors saw positive momentum on Monday, with Northrop Grumman and Palantir leading the S&P 500 with gains of 6% and 5.8%, respectively. A boost from Nvidia, which rose approximately 3%, contributed to the overall market uplift.
Ryan Detrick, chief market strategist at Carson Group, noted that although geopolitical crises may appear daunting in the short term, they typically resolve favorably for markets over the following months. “We believe the market has already been pricing in the possibility of a conflict for a month,” Detrick remarked. This sentiment hints at a reduced likelihood of severe market disruption and suggests a potential swift recovery should a resolution become apparent.
Global crude oil prices soared on Monday as concerns grew about disruptions to oil infrastructure stemming from the U.S.-Iran conflict, further heightening inflation fears. An Iranian Revolutionary Guard commander stated that the Strait of Hormuz, a crucial transit route for global oil, had been closed and warned that Iran would target ships attempting to navigate through. This reevaluation of the oil supply chain adds an anxious dimension to an already volatile situation.
Monday marked the third day of intensified U.S. military engagement following joint strikes by the U.S. and Israel that resulted in the death of Iranian Supreme Leader Ayatollah Ali Khamenei over the weekend. U.S. defense officials indicated that additional forces are being deployed to the region, and President Trump has projected that the conflict could last between four to five weeks, though he cautioned that it may extend beyond that timeframe.
As Wall Street looks ahead to Tuesday, key earnings reports from cybersecurity firm CrowdStrike and retail giant Target are eagerly anticipated. Later in the week, stakeholders will closely monitor quarterly earnings from semiconductor powerhouse Broadcom and membership-based retailer Costco, which may provide further insights into market trends against the backdrop of ongoing geopolitical concerns.
In summary, traders are navigating a fluctuating market landscape as tensions between the U.S. and Iran escalate, with investors eyeing earnings reports that could influence the market’s trajectory in the coming days. As crude oil prices rise amidst these developments, the implications for inflation and market stability remain front and center for all stakeholders involved.
Original Source: https://www.cnbc.com/2026/03/02/stock-market-today-live-updates.html
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Publish Date: 2026-03-03 05:44:00
