US Equity Indexes Mixed, Crude Oil Rises as Iran Peace Plan Stalls

04:00 PM EDT, 05/11/2026 (MT Newswires) -- US equity indexes traded mixed ahead of Monday's close, while crude oil futures rose with Treasury yields, after President Donald Trump rejected Iran's response to its proposal to restart the peace process.

The S&P 500 climbed 0.1% to 7,407.1, and the Dow Jones Industrial Average was slightly higher at less than 0.1% to 49,651.2. The Nasdaq Composite was little changed at 26,302.1, giving up almost all of its intraday gains.

Trump said the US-Iran ceasefire is on "massive life support," after he rejected Tehran's response to his peace proposal as unserious, according to a report from The Wall Street Journal. Iran, in its response, demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through Hormuz, a person familiar with the matter told Bloomberg.

Trump is meeting with his national security team on Monday to discuss the way forward in the Iran war, including possibly resuming military action, three US officials told Axios. Iran's Foreign Ministry said earlier that its proposal, which state media reported included recognition of its sovereignty over the Strait of Hormuz, was "reasonable" and "generous."

West Texas Intermediate crude oil futures rose 3.4% to $98.69, and Brent crude futures increased 3.3% to $104.66.

US Treasury yields rose, with the 10-year up 4.6 basis points to 4.41% and the two-year rate higher by 5.8 basis points to 3.95%.

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