The US-Israel joint military action against Iran prompted instability in the Middle East. US stocks plunged shortly after opening on Monday. However, investors believed the market overreacted to the Iran war and bought on dips, which led to a recovery in the three major stock indices before the market ended.

The DJIA initially plummeted by nearly 600 points, but later narrowed its losses, closing down only 73 points or 0.2% at 48,904. The S&P 500 edged up 2 points to 6,881. The Nasdaq, after dropping 1.6% at one point, ultimately added 80 points or 0.4% to 22,748.

Investors absorbed some heavyweight tech stocks, with NVIDIA (NVDA.US) up 3% and Microsoft (MSFT.US) up 1.5%.

Defense stock Lockheed Martin (LMT.US) hit a 52-week high, soaring over 3%. Due to the US and Israeli airstrikes on Iran, several oil stocks surged, with ExxonMobil (XOM.US) climbing 1.1% to a 52-week high and Chevron (CVX.US) also rising over 1%.
~



AASTOCKS Financial News
Website: www.aastocks.com

SG Top Picks
Stock & Type	Code	Strike(Call Level)	Last	Effective Gearing
Nvidia (C)	10055	230 (-)	0.020	13.3 X
Nvidia (C)	11007	205 (-)	0.195	5.7 X
Nvidia (P)	10057	165 (-)	0.109	7.4 X
MSFT (C)	11006	550 (-)	0.046	11.1 X
MSFT (P)	10715	435 (-)	0.650	8.3 X
MSFT (P)	11064	390 (-)	0.620	3.9 X