S&P 500 Holds Steady as US Awaits Iran Response

US stock indexes held steady near record highs on Tuesday as investors monitored geopolitical developments and corporate earnings. The S&P 500 Index climbed 0.1% at 9:34 a.m. in New York, while the Nasdaq 100 Index rose 0.2%, according to market data.

Market Performance

Six of 11 sectors traded in positive territory, with consumer discretionary and materials leading gains. Energy stocks declined as crude oil prices fell.

Oil Market

West Texas Intermediate Crude oil dropped around 4% to about $91 per barrel, weighing on the energy sector.

Market Context

The US stock market’s stability occurred as the United States awaits a response from Iran regarding a proposal to reopen the Strait of Hormuz and end the ongoing war. Investors simultaneously parsed earnings reports from multiple companies during the session.