Wall Street stocks were little changed early Monday as markets took in stride the latest in the Iran-Israel conflict, including the weekend bombing of Iran ordered by US President Donald Trump.
US bombers attacked Iran’s heavily guarded and secretive nuclear enrichment sites, joining Israel’s military campaign to destroy the Iranian nuclear program.
On Monday, Israel struck Tehran and Iran fired missiles as the war between the longtime foes raged for its 11th day.
About 10 minutes into trading, the Dow Jones Industrial Average was flat at 42,216.90.
The broad-based S&P 500 added 0.1 per cent at 5,975.32, while the tech-rich Nasdaq Composite Index dipped 0.1 per cent to 19,421.62.
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Markets have taken the US action in stride so far in the recognition that Iran has not retaliated and there has been no regional escalation so far, said Briefing.com analyst Patrick O’Hare.
“There might be some unease in the market as a result of the US-led bombings, but there isn’t a fear of any meaningful economic fallout as a result of the US-led bombings,” O’Hare said.
Besides the Middle East, markets this week will digest key economic and inflation data, plus earnings from FedEx and Nike. Investors are also watching Capitol Hill for action on Trump’s sweeping fiscal and tax cut legislation.
AFP
