Crude oil rebounded, bond yields ticked higher and stock prices sagged on Monday, after a Middle East ceasefire unraveled over the weekend. The Nasdaq Composite's 13-session winning streak ended, as all three main U.S. equity indexes finished in the red. Meanwhile, Kevin Warsh will appear before the Senate Banking Committee on Tuesday, as the process of confirming President Donald Trump's nominee to be the next Fed chair begins.
The front-month West Texas Intermediate crude oil futures contract rose 5.3% to $86.93 per barrel, while Brent crude oil futures, a global benchmark, climbed 5.2% to $95.06. WTI is up 29.7% since the war between the U.S., Israel and Iran began on February 28, Brent 31.2%.
