Oil prices climbed Monday following renewed tensions in the Middle East, adding uncertainty to markets already focused on the Federal Reserve’s upcoming interest-rate decision.
Traders weighed the impact of the geopolitical flare-up alongside key economic data expected later this week. The rise in crude futures pushed energy shares higher in early trading.
On the corporate side, SK Hynix shares dropped after the chipmaker reported earnings that fell short of analyst expectations. The disappointing results weighed on the broader semiconductor sector.
The Fed’s rate-setting committee is scheduled to meet this week, with investors closely watching for signals on the path of monetary policy. Many expect the central bank to hold rates steady, though any shift in language could move markets.
Bond yields edged lower as traders sought safer assets amid the geopolitical jitters. The dollar remained relatively flat against a basket of major currencies.
Technology stocks overall saw mixed performance, with gains in some large-cap names offset by losses in chipmakers. Market breadth remained narrow as cautious sentiment prevailed.
Trading volumes were below average as many participants waited for more clarity on both the Middle East situation and the Fed’s policy stance.
