Crude Falls Below $100 As Trump Mulls Emergency Reserve Release: What's Moving Markets Monday?
Wall Street opened the week still in negative territory as tensions in the Middle East continued to ripple across global markets.
• State Street Technology Select Sector SPDR ETF stock is showing upward bias. What should traders watch with XLK?
WTI crude was up about 6% to $97 per barrel, while Brent climbed to $98.31, though both benchmarks trimmed larger overnight gains in futures trading amid growing expectations of emergency policy responses.
U.S. President Donald Trump is expected to announce a series of measures aimed at easing the surge in oil prices as soon as today. Among the options under consideration is a coordinated release of strategic petroleum reserves by G7 countries, highlighting the seriousness with which major economies are approaching the risk of a prolonged supply disruption.
Geopolitical tensions also escalated further. On Monday, NATO intercepted an Iranian ballistic missile heading toward Turkey, the alliance's southeastern flank — a development that signals rising concern that the regional conflict could expand beyond its original theater.
By midday trading in New York, the S&P 500 fell 0.5% to around 6,700 points and the Dow Jones Industrial Average dropped 400 points, or 0.8%, to 47,100.
The Nasdaq 100 declined 0.1% to 24,610 and the Russell 2000 dropped 1.2% to 2,500. The Cboe Volatility Index eased 6.6% to 27.53.
The Technology Select Sector SPDR Fund (NYSE:XLK) and the Energy Select Sector SPDR Fund (NYSE:XLE) were the session’s only two sectors in positive territory, gaining 0.3% and 0.2%, respectively.
Gold slipped 1.2% to $5,096.54 per ounce as the dollar firmed. Natural gas futures fell 1.6% to $3.14. Bitcoin (CRYPTO: BTC) rose 2.5% to $68,893.40,
Monday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | % Change |
|---|---|---|
| Nasdaq 100 | 24,608.91 | -0.1% |
| S&P 500 | 6,708.71 | -0.5% |
| Dow Jones | 47,099.78 | -0.8% |
| Russell 2000 | 2,494.87 | -1.2% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) fell 0.4%.
- The SPDR Dow Jones Industrial Average ETF (NYSE:DIA) fell 0.8%.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) was up 0.28%.
- The iShares Russell 2000 ETF (NYSE:IWM) traded 1.2% lower.
Russell 1000’s Top 5 Gainers And Losers On Monday
Top Gainers
| Stock Name | % Change |
|---|---|
| Lumentum Holdings Inc. (NASDAQ:LITE) | +11.11% |
| Vertiv Holdings Co (NYSE:VRT) | +8.99% |
| United Therapeutics Corporation (NASDAQ:UTHR) | +8.31% |
| Circle Internet Group, Inc. (NYSE:CRCL) | +8.09% |
| Sandisk Corporation (NASDAQ:SNDK) | +7.17% |
Top Losers
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