Stock Market Today: Markets React to Developments in Iran; Stocks Fall; Oil Jumps, Safe-Haven Gold Gains

Market Reactions to Middle East Developments - Major stock indexes, including the Nasdaq and S&P 500, turned positive after earlier declines, with the Nasdaq up 0.4% and S&P 500 up less than 0.1% [1] - Oil prices surged, with West Texas Intermediate crude oil futures rising more than 6% to above $71 a barrel, benefiting oil companies [1] - Defense contractors saw significant gains, with Lockheed Martin, RTX, and Northrop Grumman up 3%, 3.5%, and 4% respectively [1] Energy Sector Performance - Shares of U.S. oil giants Exxon Mobil and Chevron increased by 2% and 1.5% respectively, while Occidental Petroleum and Phillips 66 rose by 1.5% and 2% [1] - LNG providers also experienced a boost, with Venture Global and Cheniere Energy shares soaring 11% and 7.5% respectively due to the conflict [2] Airline Industry Impact - Airline stocks dropped significantly as operations in the Middle East were disrupted, with Emirates canceling 95% of its flights and Air France-KLM shares plunging 12% [2] - U.S. carriers Delta Air Lines, United Airlines, and American Airlines saw their shares decline between 2% and 4% [1][2] Cryptocurrency and Related Stocks - Major cryptocurrencies, including Bitcoin, saw gains, with Bitcoin trading around $69,500, up from $63,000 [1] - Stocks affiliated with cryptocurrencies, such as MARA Global and Coinbase, surged by 8% and 4.5% respectively [1] Upcoming Earnings and Market Expectations - Target is expected to report fourth-quarter earnings, with traders anticipating a potential stock movement of up to 8% [1] - Analysts are focusing on Target's outlook under new CEO Michael Fiddelke, with expectations of a fundamental reshape of key processes and potential higher spending on store remodels [1]