Financial Markets

Stocks drifted to a mixed close on Wall Street and oil prices fell after the U.S. and Iran paused their attacks while work resumed on restarting negotiations to end their war. The S&P 500 ended barely changed Monday, up less than 0.1%. The index is coming off two straight weekly losses. The Dow Jones Industrial Average rose 0.5%. The Nasdaq composite fell 0.2%, weighed down by a 5% drop in AI chip giant Nvidia. After shooting as high as $102 a barrel last week, Brent crude fell 6.3% to settle at $85.87 per barrel. Treasury yields fell in the bond market.

Most U.S. stocks are rising after Coca-Cola and other companies reported stronger profits for the spring than analysts expected. But more drops for chip stocks and other AI winners are weighing on Wall Street Tuesday, and the S&P 500 was virtually unchanged. The Dow Jones Industrial Average added 385 points, and the Nasdaq composite fell 0.6%. The slides for AI stocks were even worse earlier in the day in Asia, where South Korea's tumbled almost 11%. Oil prices continued to ease, meanwhile, which helped to pull Treasury yields lower in the bond market. Brent crude oil fell below $84 per barrel.