Stocks Edge Up After Iran Strikes, Oil Surges

0:00On March 2nd, U.S. stocks wrapped up nearly flat on Monday after a rollercoaster day triggered by weekend airstrikes from the U.S. and Israel on Iran. Those strikes took out Iran's supreme leader, sparking early sell-offs as oil prices surged and global uncertainty hit hard. But bargain hunters stepped in, snapping up shares on the dips. Investors seemed to bet that any oil supply hiccups from the conflict would prove short-lived. The S&P 500 inched up just 0.01 percent to close at 6,879.42. The NASDAQ climb, 0.32 percent to 22,740.61 while the Dow dipped 0.18 percent to 48,891.03. Market watchers noted folks fleeing to familiar safe havens like big tech names and defense plays when nerves fray. Energy stocks led gains as crude settled 6 percent higher at 71 dollars and 23 cents per barrel, though it at spiked even more.

1:05Mid-session. Overseas, the moods stay grim with Europe's main indexes down over 1 percent and Japan's Nikkei sliding 1.73 percent. Airlines and travel shares tanked from fly groundings and pricier fuel while production halted at some Middle East oil sites. As tensions simmer in the region, President Trump warned of more to come, even as some nations push for a quick resolution. I stay glued on how this plays out for inflation and Fed moves ahead.