Dow turns positive despite geopolitical concerns, recovering from earlier 200-point loss
Stocks rose slightly on Monday, recovering losses from earlier in the session as oil dipped despite rising geopolitical worries following last week’s U.S. killing of Iran’s top general.
Monday’s marginal gains were in contrast to Friday’s sharp decline. The Dow and S&P 500 had their worst trading day in a month on Friday, the morning after President Donald Trump approved a U.S. airstrike in Baghdad that killed top Iranian Gen. Qasem Soleimani.
“If you were looking for a reason to sell, you got one,” said Art Hogan, chief market strategist at National Securities. “But the fundamental backdrop hasn’t changed in front of our eyes.”
“The market has done exactly what it should do,” he added.
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