04:46 PM EDT, 03/09/2026 (MT Newswires) -- Wall Street's main equity indexes closed higher in a late bounce on Monday, while oil prices fell after President Donald Trump indicated that the US-Israeli war on Iran could be approaching its end.

The Nasdaq Composite rose 1.4% to 22,696, while the S&P 500 advanced 0.8% to 6,796. The Dow Jones Industrial Average gained 0.5% to settle at 47,740.8. Barring financials and energy, all sectors ended in the green, led by a 1.8% jump in tech.

In a phone interview with CBS News, Trump said "the war is very complete, pretty much." Trump reportedly said that the US was "very far" ahead of his initial estimate that the conflict could go on for about a month.

He told CBS News that he was considering taking over the Strait of Hormuz.

The closure of the Strait of Hormuz drove Middle Eastern producers to reduce output amid the war, which is now into its 10th day. Saudi Arabia joined Iraq, Kuwait, and the United Arab Emirates in cutting output amid storage constraints, Bloomberg News reported.

West Texas Intermediate crude oil was last down 4.3% at $87 a barrel after rising above $100. Brent crude fell 1.8% to $91.05 a barrel.

Group of Seven, or G7, energy ministers were scheduled to have a virtual meeting Tuesday to discuss a potential release of oil reserves, CNBC reported, citing unnamed sources.

"Even if flows through the Strait of Hormuz start to resume, it will take time for upstream production to ramp up," ING Bank said in a report. "The combination of these production shut-ins and no signs of de-escalation in the war means the market is having to aggressively price in a prolonged supply disruption."

Israel said it launched a "wide-scale wave" of strikes against alleged regime infrastructure in three areas of Iran, while Turkey said NATO air defenses shot down an Iranian missile upon entering Turkish airspace, CNN reported Monday.

Wells Fargo Investment Institute said in a report that the US Federal Reserve may deliver "fewer" interest rate cuts this year amid fears that the ongoing Middle East conflict could fuel inflation.

US Treasury yields were mixed, with the 10-year rate last down 2.1 basis points at 4.11% and the two-year rate little changed at 3.56%.

All but seven S&P 500 companies have reported quarterly results in the ongoing season, with earnings up 13.7% year over year on revenue growth of 9.2%, Oppenheimer Asset Management said in a report e-mailed Monday. Ahead of the reporting season, FactSet estimates put expected earnings growth at 8.3%, Oppenheimer said.

In company news, Korn Ferry's ( KFY ) fiscal third-quarter earnings and revenue rose year over year, while the consulting firm issued a bottom-line outlook for the ongoing three-month period that indicated sequential growth. The company's shares fell 1.5%.

Hims & Hers Health ( HIMS ) will sell Novo Nordisk ( NVO )-branded (NVO) weight-loss drugs to US consumers on its platform, while the Danish pharmaceutical giant dropped a lawsuit against the telehealth company. Hims & Hers shares surged about 41%, while Novo Nordisk's ( NVO ) US-listed shares jumped 3.1%.

Gold was last down 0.1% at $5,152 per troy ounce, while silver rose 3.1% to $86.89 per ounce.