NEW YORK — The U.S. stock market is holding relatively steady, for now, following sharp swings up and down since the war with Iran began and sent oil prices spurting. The S&P 500 was flat in early trading Tuesday, a day after careening from a sharp early loss to a solid gain. The Dow Jones Industrial Average slipped 34 points, and the Nasdaq composite edged up 0.2%. Trading was also relatively calm in the oil market, which has been the center of action because of worries about the potential for long-term disruptions to the energy industry in the Middle East.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
Trading steadied early Tuesday and crude prices eased after wild swings this week with investors trying to figure out how long the war with Iran will continue.
Futures for the Dow Jones Industrial Average rose 0.2% before the opening bell, while S&P 500 futures inched up 0.1%. Futures for the Nasdaq were up 0.2%.
On Monday, markets swung from big losses to finish the day with gains, while oil prices neared $120 per barrel before falling back to about $90. Oil prices inched down further early Tuesday.
Helping to assuage investors’ fears, U.S. President Donald Trump told CBS News on Monday that he thinks “the war is very complete, pretty much.” However, Trump also made other somewhat contradictory comments that seemed to threaten intensified action against Iran if it makes any “attempt to stop the globe’s oil supply.”
Iran launched new attacks on Tuesday at Israel and Gulf Arab countries, keeping pressure on the Middle East in a war started by Israel and the United States 10 days ago that has sent oil prices surging.
Benchmark U.S. crude fell $5.44 to $89.33 a barrel. Brent crude, the internation