Stock Market Today: Dow up despite Israel-Hamas war as Fed members signal caution

Investing.com -- The Dow closed higher Monday, as investors bought the early-day weakness after weighing up a more cautious tone rate hike from Federal Reserve officials and rising geopolitical tensions amid fears the Israel-Hamas conflict.

Logan, meanwhile, said"there may be less need to raise the fed funds rate" following a rise in long-term interest rates.Following the surprise Hamas’ attack on Israel, and subsequent declaration of war by Israel, geopolitical tensions in the Middle-East dominated investor attention and briefly kept a lid on their appetite for risk.

“The Saudi leadership has insisted on Israel making significant concessions to the Palestinians as part of any normalization agreement and given what has transpired, it is very difficult to envision a government that is now on war footing to agreeing to such terms,” RBC said in a note.The move higher in energy stocks was also supported by rising oil prices on fears of disruptions in the oil-rich Middle East amid rising geopolitical tensions.

Intel slips as plans as Israel-Gaza war threatens plan for chip making factory in Israel; Nvidia slips after scrapping AI summit) was marginally lower after cutting losses despite concerns that the conflict could hurt the chipmaker’s plan to build a new chip-making plant in Israel weighed on sentiment.

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