U.S. Stocks Mixed Amid Iran War Uncertainty, Oil Up 2%

U.S. stocks ended mixed Monday, paring recent record highs amid heightened uncertainty over the war with Iran, as oil prices climbed more than 2 percent due to continued disruptions in the Strait of Hormuz.

The S&P 500 rose 0.1 percent to close at 7,137.91, while the Dow Jones Industrial Average fell 0.1 percent, or 62.92 points, to 49,167.79. The Nasdaq Composite gained 0.2 percent to a record 24,887.10. The modest moves followed weeks of sharp gains fueled by robust first-quarter corporate profits for 2026 that exceeded analyst expectations, helping the S&P 500 climb 13 percent from a late-March low.

Oil prices led the day's action, with Brent crude for June delivery settling 2.8 percent higher at $108.23 per barrel. July Brent rose 2.6 percent to $101.69. Prices have surged from about $70 per barrel before the war began and have spiked near $120 at peaks of tension. Tankers continue to face an effective closure of the Strait of Hormuz, stranding crude in the Middle East, including Iranian oil blockaded by the U.S. Navy.

Iran proposed reopening the strait in exchange for an end to the U.S. blockade, with nuclear program talks deferred to a later stage. The offer, relayed...