The S&P 500 Index ($SPX) (SPY) on Monday closed down -0.07%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.32%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.45%. June E-mini S&P futures (ESM26) fell -0.12%, and June E-mini Nasdaq futures (NQM26) fell -0.48%.
Stock indexes gave up an early advance on Monday and settled mixed as crude oil prices whipsawed between gains and losses amid the stalemate between the US and Iran that has kept the Strait of Hormuz closed. Crude prices recovered from early losses and climbed to a 3-week high on Monday when Iran said, despite draft changes, US demands for ending the war were "excessive and unrealistic." The rebound in crude oil prices pushed bond yields higher, weighing on stocks as the 10-year T-note yield climbed to a 15-month high of 4.63%.
