Daily Market Coverage Mar. 2, 2026 3PM-5PM (ET) | Yahoo Finance
US stocks recovered from a substantial sell-off by the late morning on Monday, as Wall Street assessed the fallout from US and Israeli attacks on Iran as well as subsequent counterattacks.
The S&P 500 (^GSPC) and tech-heavy Nasdaq Composite (^IXIC) rebounded from an early retreat, gaining 0.1% and 0.5%, respectively. The Dow Jones Industrial Average (^DJI) hovered near the flatline after recovering substantial losses.
The impact on oil prices, and in turn on inflation, remained front of mind for investors already uneasy about the backdrop for stocks. The S&P 500 closed February in negative territory after renewed volatility in AI and software names rattled markets.
Oil prices jumped Monday, with Brent crude futures (BZ=F) surging 6% to hover near $78 at last check. West Texas Intermediate futures (CL=F) traded just below $71. While Iran is the Organization of the Petroleum Exporting Countries’ (OPEC) fourth-largest producer, markets are also bracing for sustained disruption in the key Strait of Hormuz, where tanker traffic has come to a standstill.
Shares in energy major Exxon (XOM) popped, while defense stocks, including Lockheed Martin (LMT), also found buyers. But travel-linked stocks slipped, with Delta Air Lines (DAL) dropping in the fallout.
Elsewhere in markets, gold (GC=F) touched $5,400 an ounce before paring gains. Meanwhile, Treasury yields (^TNX) moved higher as markets cut back bets on interest-rate cuts on the prospect of hotter inflation.
The next key input into those rate calculations comes Friday, with the release of the monthly jobs report. Economists expect US payrolls to have added 60,000 jobs in February, down from January’s stronger-than-expected 130,000 gain that eased recession fears.
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