Global stock markets ended mixed on Monday while oil prices rose, as investors reacted to shifting developments in the Middle East. US President Donald Trump announced he postponed a planned military attack on Iran, saying he was asked to do so by the leaders of Qatar, Saudi Arabia, and the United Arab Emirates to allow for continued peace negotiations.
Oil prices briefly dipped after an unconfirmed Iranian media report that the US had agreed to suspend sanctions on Iranian crude, but quickly recovered as tensions remained. US equity indices fluctuated throughout the day, closing mixed. “It feels very tenuous right now,” said Tom Siomades, chief market economist at AE Wealth Management. “Obviously the Iran stuff on a daily basis is driving everything.”
European markets ended higher. Government bond yields have risen globally as investors question whether inflation will erode economic growth and pressure deficits. All eyes are on Nvidia's quarterly results due Wednesday, which will be scrutinized for signs of return on AI data center investments.
In Asia, Tokyo's Nikkei 225 fell, but memory chip maker Kioxia surged 16% after stellar quarterly results, forecasting a record 1.3 trillion yen ($8.2 billion) in operating profit for April-June.