Heard on the Street Recap: Oil Surges, Stocks Shrug -- WSJ

Dow Jones03-03 06:20

By Heard Editors

What Happened in Markets Today

The outbreak of conflict made for a volatile day. U.S. stocks initially sold off on Monday morning after the U.S. struck Iran over the weekend. But they regained ground over the course of the day. The S&P 500 index ended fractionally higher. The Nasdaq Composite rose 0.4%, while the Dow Jones Industrial Average shed 73 points, or 0.2%.

Shipping was a market focus. As ships were rerouted, markets priced in potentially rising shipping rates. Shares of Maersk rose over 7%, and Hapag-Lloyd was up more than 6%. Meanwhile, cruise operators Norwegian and Carnival were down more than 10% and 7%, respectively.

Oil prices surged, then calmed. On Sunday evening oil prices leapt, with Brent crude futures trading above $82 at one point. But by late Monday, prices had eased somewhat, with Brent settling at $77.74, a rise of 6.7% over the prior close.

Treasury bonds sold off. Though the dollar strengthened, in a somewhat unusual move, U.S. government bonds actually sported higher yields. Investors may be pricing in higher inflation risk from rising energy prices. Yields on both 2-year and 10-year Treasurys were higher by Monday's close.

Defense stocks rallied. Shares of Lockheed Martin were up more than 3%, and RTX and Northrop Grumman jumped over 6%. An analyst said investors were increasing their "focus on missile-defense systems."

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 02, 2026 17:20 ET (22:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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U.S. stocks initially sold off on Monday morning after the U.S. struck Iran over the weekend. But they regained ground over the course of the day. The S&amp;P 500 index ended fractionally higher. The Nasdaq Composite rose 0.4%, while the Dow Jones Industrial Average shed 73 points, or 0.2%. \n</p>\n<p>\n     Shipping was a market focus. As ships were rerouted, markets priced in potentially rising shipping rates. Shares of Maersk rose over 7%, and Hapag-Lloyd was up more than 6%. Meanwhile, cruise operators Norwegian and Carnival were down more than 10% and 7%, respectively. \n</p>\n<p>\n     Oil prices surged, then calmed. On Sunday evening oil prices leapt, with Brent crude futures trading above $82 at one point. But by late Monday, prices had eased somewhat, with Brent settling at $77.74, a rise of 6.7% over the prior close. \n</p>\n<p>\n     Treasury bonds sold off. Though the dollar strengthened, in a somewhat unusual move, U.S. government bonds actually sported higher yields. 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Shares of Lockheed Martin were up more than 3%, and RTX and Northrop Grumman ju","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"华尔街回顾：石油飙升，股市耸耸肩——华尔街日报","themeId":"e4f64676559a61b536a116355454577c","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"By Heard Editors \n\n\n     What Happened in Markets Today \n\n\n     The outbreak of conflict made for a volatile day. U.S. stocks initially sold off on Monday morning after the U.S. struck Iran over the weekend. But they regained ground over the course of the day. The S&P 500 index ended fractionally higher. The Nasdaq Composite rose 0.4%, while the Dow Jones Industrial Average shed 73 points, or 0.2%. \n\n\n     Shipping was a market focus. As ships were rerouted, markets priced in potentially rising shipping rates. Shares of Maersk rose over 7%, and Hapag-Lloyd was up more than 6%. Meanwhile, cruise operators Norwegian and Carnival were down more than 10% and 7%, respectively. \n\n\n     Oil prices surged, then calmed. On Sunday evening oil prices leapt, with Brent crude futures trading above $82 at one point. But by late Monday, prices had eased somewhat, with Brent settling at $77.74, a rise of 6.7% over the prior close. \n\n\n     Treasury bonds sold off. Though the dollar strengthened, in a somewhat unusual move, U.S. government bonds actually sported higher yields. Investors may be pricing in higher inflation risk from rising energy prices. Yields on both 2-year and 10-year Treasurys were higher by Monday's close. \n\n\n     Defense stocks rallied. Shares of Lockheed Martin were up more than 3%, and RTX and Northrop Grumman jumped over 6%. An analyst said investors were increasing their \"focus on missile-defense systems.\" \n\n\n       This item is part of a Wall Street Journal live coverage event. 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