Oil slips amid Israel-Iran conflict, stocks cautious: Live Updates
Crude oil reversed course Monday amid ongoing tensions between Israel and Iran. This as President Trump heads to the G-7 meeting in Canada. U.S. stocks drifted as investors kick off the week. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
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A trader works on the floor of the New York Stock Exchange in New York City. (Reuters)
Stocks closed higher on Monday as the conflict between Israel and Iran remains in the spotlight.
The Dow Jones Industrial Average climbed points 317.30, or 0.75%, while the S&P 500 and Nasdaq Composite rose 0.94% and 1.52%, respectively.
Oil prices were lower on Monday after surging last week to the mid-$70 level. West Texas Intermediate crude traded at north of $71 per barrel. Brent crude, the international benchmark, traded at $73 a barrel.
Trading Economics
Oil prices reversed course Monday giving back earlier gains as investors react to a possible de-escalation of the conflict between Iran and Israel.
Crude hugged the $70 per barrel level, slipping from the high $70s hit late last week as the Middle East conflict escalated.
U.S. Steel shares rose to the highest close since March of 2011 when it hit $56.31, as tracked by Dow Jones Market Data Group. The 5% jump Monday put the shares at $54.85.
President Trump greenlighted its deal with Japan's Nippon Steel late Friday.
| Symbol | Price | Change | %Change |
|---|---|---|---|
| IBIT | $61.48 | 1.75 | 2.92 |
| FBTC | $94.44 | 2.65 | 2.89 |
| GBTC | $85.20 | 2.37 | 2.86 |
Bitcoin, the largest cryptocurrency by market value, rose in tandem with stocks, hovering around the $108,000 level, approaching its all-time high of $111,986.44 reached May 22, 2025.
Microsoft shares hit another fresh record putting quarterly gains at a whopping 27%. Citigroup, last week, raised its price target on the shares to $605 from $540. That implies a 26% rise from current levels.
Gold bars
Gold fell 1% on Monday to the $3,396.40 an ounce. The largest dollar and percentage dip since May 27, as tracked by Dow Jones Market Data Group.
An easing of tensions between Iran and Israel prompting the flight out of the safe haven. Still, gold hit a fresh record last week of $3,431.20.
(Getty Images)
The rise of artificial intelligence and the increasing popularity of cryptocurrency will continue to push electricity consumption to record highs in 2025 and 2026.
The U.S. Energy Information Administration (EIA), in its latest Short-Term Energy Outlook (STEO), said power demand will rise to 4,193 billion kilowatt-hours (kWh) in 2025 and 4,283 billion kWh in 2026 from a record 4,097 billion kWh in 2024.
Data centers will account for the most significant rise in electricity usage, though the report also said American homes and businesses will use more electricity for heat and transportation.
It raises the question of how the U.S. will meet that demand, as electricity usage will only increase beyond 2026. Phil Flynn, senior market analyst at the Price Futures Group and a FOX Business contributor, said the U.S. needs an "all-hands-on-deck" approach.
This is an excerpt from an article by FOX Business' Jay Caruso
Getty Images
President Donald Trump took a question on the conflict between Iran and Israel at the start of the G7 meeting in Canada.
"They'd like to talk, but they should have done that before. I had 60 days...and on the 61st day I said, we don't have a deal. They have to make a deal. And, it's painful for both parties. But I'd say Iran is not winning this war. And they should talk and they should talk immediately before it's too late" Trump said.
President Donald Trump is meeting with Canadian Prime Minister Mark Carney at the G7 summit in Alberta, Canada.
An At Home store (BusinessWire)
At Home Group has filed for bankruptcy to help the home decor retailer undergo a restructuring.
The company announced Monday it started Chapter 11 bankruptcy proceedings so that it can implement a "restructuring support agreement" that it has signed with lenders "holding more than 95% of the Company’s debt."
The restructuring support agreement will help the retailer wipe out "substantially all" of its nearly $2 billion in funded debt, At Home said. It will also infuse the retailer with $200 million of capital.
"The steps we are taking today to fully de-lever our balance sheet will improve our ability to compete in the marketplace in the face of continued volatility and increase the resilience of our business," CEO Brad Weston said.
This is an excerpt from an article by FOX Business' Aislinn Murphy
Tehran following Israel strikes, Majid Asgaripour/WANA via Reuters
With tensions high between a battling Iran and Israel, President Donald Trump, on Sunday, urged the two countries to make peace with a "deal."
"Iran and Israel should make a deal, and will make a deal, just like I got India and Pakistan to make, in that case by using TRADE with the United States to bring reason, cohesion, and sanity into the talks with two excellent leaders who were able to quickly make a decision and STOP! Also, during my first term, Serbia and Kosovo were going at it hot and heavy, as they have for many decades, and this long time conflict was ready to break out into WAR. I stopped it (Biden has hurt the longer term prospects with some very stupid decisions, but I will fix it, again!). Another case is Egypt and Ethiopia, and their fight over a massive dam that is having an effect on the magnificent Nile River. There is peace, at least for now, because of my intervention, and it will stay that way! Likewise, we will have PEACE, soon, between Israel and Iran! Many calls and meetings now taking place. I do a lot, and never get credit for anything, but that’s OK, the PEOPLE understand. MAKE THE MIDDLE EAST GREAT AGAIN!" he posted on Truth Social.
Former Estée Lauder CEO Leonard Lauder, who turned his mother's cosmetics company into a global powerhouse, died at the age of 92, according to a company statement Sunday.
Niece Aerin Lauder paid tribute to her uncle on Instagram saying.
"Uncle Leonard will be missed by so many. His famous blue notes, his big smile, the perfect red tie, his love of a breakfast danish with a cup of coffee, the list of special memories goes on.
He mixed business and family with love and passion, and always reinforced the importance of quality and hard work. I have so many unforgettable memories of him in meetings discussing products and stores. I will never forget his dedication and love for the beauty industry, but most of all I will never forget what an incredible uncle he was."
Shares of the company, which owns brands including Clinque and Bobbi Brown, are down 9% year-to-date.
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