Stocks mixed as investors shrug off renewed fighting in Iran

TL;DR

Stocks were mixed on Tuesday due to renewed tensions in the Persian Gulf, but investor optimism for a U.S.-Iran peace deal persisted.
The U.S. military struck Iranian targets, which Iran called a 'grave violation,' while President Trump indicated a peace agreement was 'largely negotiated.'
The S&P 500 rose 0.6%, the Dow Jones Industrial Average fell 0.25%, and the Nasdaq jumped 1.2%.
Benchmark U.S. crude oil declined 3%, while Brent crude gained 3.6%.
Hopes for a short conflict have buoyed stocks, but rising oil prices have driven inflation and strained household budgets.
An end to hostilities is expected to reopen the Strait of Hormuz, allowing global shipping and potentially leading to plummeting energy prices.
Average gasoline prices have eased, with the national average at $4.49 per gallon, down from $4.53 a week prior.
Global markets advanced Monday on reports of a potential U.S.-Iran agreement to end the war and reopen the Strait of Hormuz.

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