"As long as the market sees this as contained, and that diplomatic efforts continue to focus on keeping the conflict contained, the market looks at it and says, we've seen this before," said Quincy Krosby, chief global strategist at LPL Financial. The Russell 2000 index of small-cap companies added 0.6%. Small caps rose on Monday, boosting confidence about the broader economy. Some investors expressed confidence that the market had already assessed the impact of Hamas' attack over the weekend. Rathbun said she is closely watching Iran, a major OPEC producer, to determine crude movements as the conflict progresses. I think it will take a few days to really understand where the impact actually is." "So there's dust going up, and now the dust is coming back down. "I think there's a knee-jerk reaction," said Anna Rathbun, chief investment officer for CBIZ Investment Advisory Services, in oil prices and in shares of defense and airlines companies. Lockheed Martin and Northrop Grumman added 8.9% and 11.4%, respectively. Īlong with oil and gas giants, major defense companies also jumped amid the Middle East conflict. Halliburton was the biggest energy winner, with the stock popping 6.8%, followed by Marathon Oil Corp and ConocoPhillips. WTI and Brent posted their best days since April 3.Īll sectors ended Monday in the green, led by gains in energy and industrials, which closed higher by 3.5%, and 1.6%, respectively. International Brent futures rose 4.2% to $88.15. WTI crude oil futures were up 4.3% on Monday, settling at $86.38. The rising tension could also serve to stoke further volatility in market that has kept traders worried with persistent inflation and higher interest rates. The rising geopolitical tensions caused by the conflict could have ramifications for the energy market, with some experts forecasting a brief surge in crude prices but overall limited impact. Hamas is a designated terrorist group backed by Iran that has governed the Gaza Strip since 2007. The attack led Israeli Prime Minister Benjamin Netanyahu to declare his country is at war. More than 700 Israelis have been killed in what Hamas is calling Operation Al Aqsa Flood, with at least 687 Palestinians killed in retaliatory Israeli strikes on the Gaza Strip, according to latest figures. Stocks were under pressure earlier on Monday after the Israeli-Palestinian conflict escalated Saturday, with militant group Hamas staging an invasion, to which Israel was seemingly caught off guard. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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