Opening: U.S. stocks opened slightly higher on Tuesday as the market continues to focus on the Middle East situation

On the evening of March 17 Beijing time, U.S. stocks opened slightly higher on Tuesday. Major indices attempted to continue the upward momentum from the previous trading day. The market continued to focus on the impact of the US-Iran war on crude oil and other areas. Oil prices surged about 4% on Tuesday, with Brent crude remaining above the key $100 per barrel level.

The Dow rose 139.12 points, or 0.30%, to 47,085.53; the Nasdaq increased 73.111 points, or 0.33%, to 22,447.289; the S&P 500 gained 22.97 points, or 0.34%, to 6,722.35.

Volatile oil prices and the consequences of the Iran conflict continue to influence investor sentiment.

As energy market participants closely monitor ongoing supply disruptions, oil prices rose early Tuesday. May-dated international Brent crude futures increased by 3% to $103.21 per barrel; April-dated U.S. West Texas Intermediate (WTI) crude futures rose 3.2% to $96.52 per barrel.

Due to severe disruptions in shipping through the Strait of Hormuz, oil prices have surged about 40% during the US-Iran war, reaching their highest levels since 2022. Last week, Brent crude closed above $100 per barrel for the first time in four years.

The rebound in oil prices came after President Trump hinted that the coalition to protect shipping through the Strait of Hormuz is still being formed.

On Monday, President Trump told reporters that some countries are “less enthusiastic” about helping escort oil tankers through the Strait of Hormuz. He called on other countries to “participate quickly and enthusiastically.”

Trump said, “Some countries are very eager; they are already in action. They have already arrived there. I will give you a list. Some countries are very eager, some are not so eager. I think there are one or two countries that will not participate. We have been protecting them for about 40 years, at a cost of hundreds of billions of dollars.”

Since the U.S. and Israel launched strikes against Iran, oil prices have surged significantly amid concerns that a long-term closure of the Strait of Hormuz could disrupt global energy supplies.

Investors are watching for further developments in the conflict. Israeli Defense Minister Yoav Gallant stated that Iran’s security minister Ali Larijani was killed in a nighttime airstrike.

Many attribute the continued rise in the stock market to a relatively strong economy, controlled inflation, and robust earnings, but Holly Mazoka, president of Bartlett Wealth Management, said Monday, “The risks of this growth story are accumulating.”

Mazoka stated, “The start of this year was quite solid, but the labor market has become noticeably weak. So, the big question for investors now is to realistically recognize that the overall risks facing this ongoing growth story are higher today than they were a few weeks ago.”