The S&P 500 managed a 0.36% gain, closing at 7,568.92, even as oil futures dipped 0.4% to $96.09 a barrel. Crude prices stabilized following a sharp decline, triggered by reports of U.S. military action near Qeshm Island. Despite President Trump’s suggestion that negotiations might restart, neither Washington nor Tehran has shown willingness to concede on control of the Strait of Hormuz.

Treasury markets signaled rising investor anxiety regarding fiscal policy. The yield on the 10-year note climbed 0.058 percentage point to 4.951%, marking its most significant jump since late September. Meanwhile, the two-year Treasury yield rose to 4.612% and the 30-year bond hit 5.323%. Investors sought the safety of the greenback, which strengthened against major rivals, while gold futures dropped 0.7% to $3,927.90 an ounce, hovering near annual lows.