Equities Mixed Intraday, Oil Rises After Trump, Powell Comments

02:00 PM EDT, 03/30/2026 (MT Newswires) -- US benchmark equity indexes were mixed intraday, while oil prices moved higher as traders parsed the latest remarks by President Donald Trump and Federal Reserve Chair Jerome Powell.

The Nasdaq Composite was down 0.5% at 20,834.5 after midday Monday, while the S&P 500 fell 0.1% to 6,360. The Dow Jones Industrial Average rose 0.3% to 45,303.3. Among sectors, technology saw the biggest drop, while financials paced the gainers.

West Texas Intermediate crude oil increased 3.7% to $103.33 per barrel. Brent crude for May delivery reached as high as $116.89 per barrel earlier on Monday, but was little changed most recently at $112.61.

The US is in "serious discussions" with a new Iranian regime to end the military conflict, Trump said in a social media post Monday. However, if a deal is not reached and the strait remains shut, the US would blow up Iran's power plants, oil wells and export hub Kharg Island, he said.

The Iran-backed Houthi rebels in Yemen launched missile attacks on Israel over the weekend, while Israel's military said it had launched air strikes on central and western Iran, Reuters reported.

"Oil prices jumped at the start of the week as the Middle East conflict intensified and Iran-backed Houthi militants entered the war," ING Bank said in a report. "There remains little sign of imminent peace talks."

Powell said inflation expectations in the US seem to be "well anchored" beyond the short term amid the recent oil price shock, potentially allaying market concerns regarding possible monetary policy tightening.

"But nonetheless, it's something we will eventually maybe face the question of what to do here," Powell said during a discussion at Harvard University. "We're not really facing it yet, because we don't know what the economic effects (of the Iran war) will be, but we'll certainly be mindful of that broader context when we make that decision."

US Treasury yields were lower intraday, with the 10-year rate dropping 9.6 basis points to 4.34% and the two-year rate decreasing 8.4 basis points to 3.83%.

In company news, Sysco (SYY) agreed to acquire Jetro Restaurant Depot in a cash-and-stock deal with an enterprise value of about $29.1 billion, as the food distributor looks to expand into the cash-and-carry wholesale channel. Sysco (SYY) shares tumbled nearly 15% intraday, the worst performer on the S&P 500.

Alaska Air (ALK) expects to report a bigger first-quarter loss than previously estimated amid higher fuel costs and travel demand disruptions in Mexico and Hawaii. The airline's shares were down 6.3%.

CrowdStrike (CRWD) shares rose 3.9%, among the top gainers on the S&P 500, as Wolfe Research upgraded the cybersecurity company's stock to outperform from peer perform.

Gold was up 0.6% at $4,517.70 per troy ounce, while silver increased 1% to $70.5 per ounce.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.