U.S. stocks open nearly flat as oil rises before earnings

what happened

Reuters reported that major U.S. stock indexes opened nearly flat on Monday. The Dow Jones Industrial Average rose 92 points, or 0.18%, to 51,746.95, while the S&P 500 gained 4.18 points, or 0.05%, to 7,815.72. The Nasdaq Composite slipped 12.89 points, or 0.05%, to 27,353.28.

Brent crude futures climbed above $106 a barrel, reaching their highest level in about two weeks after deadly strikes hit Riyadh’s international airport. The advance eased after President Donald Trump said Russia and Ukraine had agreed to stop attacking each other’s energy facilities. The terms were unclear, and the plan faces opposition in Washington.

The U.S. earnings season starts on Tuesday, with Wells Fargo, Goldman Sachs, Citigroup and JPMorgan Chase among the first major banks scheduled to report. LSEG IBES data indicate that S&P 500 earnings are expected to rise 30.6% in the third quarter. Investors are also awaiting consumer and producer price data and retail sales figures. CME’s FedWatch tool showed a 19% chance of a Federal Reserve rate increase this month.

why it matters

Higher energy prices may reinforce concerns that inflation will remain persistent, potentially keeping policymakers hawkish. Bank results and upcoming economic data could also reshape expectations for interest rates and equity valuations.

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