A sharp contradiction between President Donald Trump and Iran did little to unsettle investors as U.S. equities staged a broad, relief-driven rebound by midday.
The S&P 500 bounced off four-month lows after Trump announced a five-day pause in military strikes on Iranian energy infrastructure—a move that sent crude oil tumbling nearly 8% and triggered a rapid unwinding of the war premium embedded across asset classes.
US Equities, Oil Market React Swiftly
WTI crude crashed as much as $11 from Friday’s close on the Trump’s 5-day pause announcement, touching a session low near $86 before partially recovering to around $90.39 per barrel by midday — still down $7.71, or 7.9%, on the day.
Brent crude fell to $103.14, shedding $9.05, or 8.1%.
The Nasdaq 100 climbed 381 points, or 1.6%, to 24,280 points, paced by broad gains in large-cap technology names.
Gold pared sharp early gains as risk appetite improved on the ceasefire news, retreating from a session high near $4,520 to trade around $4,388 per troy ounce, down $106, or 2.4%, by midday.
Monday’s Performance In Major US Indices
According to the Benzinga Pro platform:
War-Beaten Stocks Rallied
The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) was Monday’s best-performing S&P 500 sector, surging 2.5% as the prospect of sharply lower oil prices brightened the consumer spending outlook.
Industrials gained 1.7%, Technology added 1.4%, while Materials rose 1.4%.
Enphase Energy, Inc. (NASDAQ:ENPH) was among the session’s steepest decliners, falling 5.6%.
Enphase Energy, Inc. (NASDAQ:ENPH) was the Russell 1000’s steepest loser, tumbling 5.5%.
Monday’s Russell 1000 Top Gainers
Monday’s Russell 1000 Top Losers
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