The broad market index was last up 0.1 percent after hitting a new all-time high earlier in the session. The Nasdaq Composite also rose 0.2 percent to hit a new intraday record. The Dow Jones Industrial Average fell 62 points, or 0.1 percent.
President Donald Trump on Saturday dropped plans to send US special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, noting that the talks could be conducted by phone, SEEbiz reports.
Iranian Foreign Ministry spokesman Esmaeil Baqaei said that no meeting between Tehran and Washington is currently planned.
Oil prices were higher on Monday as the United States and Iran remained at a stalemate. West Texas Intermediate crude futures rose 2.09 percent to settle at $96.37 a barrel, while international benchmark Brent crude futures rose 2.75 percent to settle at $108.23 a barrel.
However, the Axios report states that Iran has offered the US a new proposal to reopen the Strait of Hormuz and end the war, with the suggestion of postponing nuclear talks.
Although investors have begun to look beyond the war as the market emerges from a week of multiple record highs, the war is still “in play,” according to Gabriel Shahin of Falcon Wealth. That’s the case even as earnings season continues after an upbeat start.
