Although US markets initially surrendered to concerns about the escalation in the Israel-Gaza conflict on Monday, they recovered at the end of the day and closed in the green zone. The Dow gained 0.5% to close at 33,604.65, the S&P 500 gained 0.6% to close at 4,335.66 and the tech-heavy Nasdaq gained 0.4% to close at 13,484.24.
Over the weekend, Palestinian militant group Hamas launched an attack on Israel. The resumption of the war caused some investors to become bearish due to concerns about market volatility. However, these concerns were largely put to rest later in the day. There has been an increase in defense-related companies; Lockheed Martin gained 8.5% and Northrop Grumman Corp gained 11%. Oil producers also gained value in anticipation of high oil prices.
Gold found support from the turmoil, gaining 0.74% to $1,861.53. Oil also gained value; West Texas Intermediate rose 4.24% to $86.29 and Brent crude rose 4.09% to $88.05.
US Dollar Index increased by 0.03% to 106.08. With the rise of the dollar, the euro fell by 0.2220% to 1.0566. The yen gained 0.5138%, bringing the amount of yen needed to buy one dollar to 148.5070.
Information used in this story was obtained from CNBC, OilPrice, Yahoo Finance, MSN Money and Marketwatch. What do you think about market movements? We are waiting your comments.
Over the weekend, Palestinian militant group Hamas launched an attack on Israel. The resumption of the war caused some investors to become bearish due to concerns about market volatility. However, these concerns were largely put to rest later in the day. There has been an increase in defense-related companies; Lockheed Martin gained 8.5% and Northrop Grumman Corp gained 11%. Oil producers also gained value in anticipation of high oil prices.
Gold found support from the turmoil, gaining 0.74% to $1,861.53. Oil also gained value; West Texas Intermediate rose 4.24% to $86.29 and Brent crude rose 4.09% to $88.05.
US Dollar Index increased by 0.03% to 106.08. With the rise of the dollar, the euro fell by 0.2220% to 1.0566. The yen gained 0.5138%, bringing the amount of yen needed to buy one dollar to 148.5070.
Information used in this story was obtained from CNBC, OilPrice, Yahoo Finance, MSN Money and Marketwatch. What do you think about market movements? We are waiting your comments.