Highlights
Major stock indexes eased Monday in response to rising oil prices, higher long end bond yields and a weaker dollar. The Dow Jones industrial average was down 0.2 percent, and the S&P 500 lost 0.3 percent, and the Nasdaq slipped 0.1 percent. The benchmark 10-year Treasury note yield topped 4.75 percent for the first time since January 2025.
News of an exchange of attacks from the US and Iran and more bellicose rhetoric from both sides sent oil prices higher, which undercut risk appetite. Activity was limited due to the late summer week and as markets wait for economic reports and Fed appearances later in the week. Upcoming news includes the ISM manufacturing report on Tuesday, an appearance by Fed Governor Chris Waller on Thursday, and the monthly jobs report on Friday.