The S&P 500 was relatively unchanged on Monday, following a winning week on Wall Street, as oil prices rose after President Donald Trump rejected Iran’s latest proposal to end the war. The broad market index dipped 0.1%, while the Nasdaq Composite shed 0.2%. The Dow Jones Industrial Average fell 44 points, or 0.1%. Iran sent a new proposal to U.S. negotiators, centered on ending the monthslong conflict. The counteroffer stressed the need to end the war on all fronts and to lift sanctions on Tehran, Iran’s semi-official Tasnim news agency said, citing an informed source. In response, Trump said in a Truth Social post that he did not like Iran’s response, adding that it was “TOTALLY UNACCEPTABLE!” Nonetheless, some market watchers expect U.S. markets to remain resilient despite the uncertainty. “The economy may slow somewhat from its prior path, due to the Iran war and subsequent oil price shock,” said Rick Rieder, chief investment officer of global fixed income at BlackRock. But, “there are many much larger structural components that should keep the aggregate economy in much better shape than many people expect.” The moves come after the S&P 500 and Nasdaq rallied more than 2% and 4%, respectively, last week. Both indexes recorded their sixth straight winning weeks—a first for each since 2024. The Dow rose 0.2% for the week, notching its fifth week of gains out of the last six. Stocks advanced to end the week on Friday after the U.S. nonfarm payrolls report showed an increase of 115,000 jobs in April, surpassing expectations of 55,000 from economists polled by Dow Jones. The S&P 500 and Nasdaq both ended Friday’s session at all-time highs. Yields on U.S. Treasuries moved higher at the start of a new trading week as traders reacted to geopolitical developments around the Iran war ahead of President Donald Trump’s meeting with Chinese Premier Xi Jinping in Beijing later this week and prepared for the latest inflation reading out Tuesday. The yield on the 10-year U.S. Treasury note — the key benchmark for government borrowing — was more than a basis point higher, at 4.378%. The 2-year Treasury note yield, more sensitive to short-term Federal Reserve interest rate policy, rose almost 2 basis points to reach 3.912%. The longer-dated 30-year Treasury bond yield was more than 1 basis point higher at 4.959%. South Korea’s Kospi opened at a fresh record Monday, leading gains in Asia-Pacific markets amid rising oil prices and escalating tensions between the U.S. and Iran. South Korea’s Kospi ended today’s trading session 4.32% higher at 7,822.24 after opening to a fresh record, while the small-cap Kosdaq was flat at 1,207.34. Japan’s Nikkei 225 was in choppy trade and was 0.47% lower at 62,417.88, while the Topix rose 0.3% at 3,840.93. Australia’s S&P/ASX 200 was 0.49% lower at 8,701.80. China’s CSI 300 added 1.64% at 4,951.84, while Hong Kong’s Hang Seng index was flat in its last hour of trade. India’s Nifty 50 was 0.94% lower. Oil prices were higher Monday after Israeli Prime Minister Benjamin Netanyahu warned that the conflict with Iran was “not over,” raising fears that tensions in the Middle East could escalate again and further threaten energy supplies. U.S. West Texas Intermediate futures with June delivery advanced more than 2% to $97.88 per barrel by 7:39 a.m. ET. International benchmark Brent crude futures with July delivery rose more than 2% to $103.93. WTI and Brent are both up around 40% since the U.S.- and Israeli-led war against Iran started on Feb. 28. Gold fell 1% on Monday, ​as elevated oil prices stoked ​worries over inflation ​and prolonged high interest rates, while peace talks between the United States and Iran remained unsolved. Spot gold fell 1% at $4,667.99 per ounce. U.S. gold futures ⁠for ‌June delivery lost 1.1% at $4,677.80. The dollar rose, making ⁠greenback-priced bullion more expensive for holders of other currencies.