04:25 PM EDT, 04/06/2026 (MT Newswires) -- US benchmark equity indexes closed higher Monday, with the Nasdaq Composite and the S&P 500 seeing a fourth straight increase as traders evaluated the possibility of a ceasefire in the Middle East.

The Nasdaq rose 0.5% to 21,996.3. The S&P 500 and the Dow Jones Industrial Average advanced 0.4% each, to 6,611.8 and 46,669.9, respectively. Among sectors, consumer discretionary led the gainers.

The US equity market was closed April 3 for the Good Friday holiday.

West Texas Intermediate crude oil rose 0.8% to $112.46 a barrel Monday.

Iran could be "taken out in one night," which might be Tuesday, CNN reported Monday, citing US President Donald Trump. The president previously set a Tuesday deadline for Iran to reopen the Strait of Hormuz, a key trade chokepoint.

Earlier, Trump reportedly said a new proposal for a temporary US ceasefire with Iran was "significant," but "not good enough." Iran has rejected a ceasefire, according to media reports. Trump reiterated threats to attack bridges and power plants in Iran, after Israel said it struck a key petrochemical complex in Tehran, according to CNN.

"War escalation risk remains high into the next few weeks," Wells Fargo Investment Institute said in a note to clients Monday. "Oil prices spilling into higher transportation and fertilizer prices heighten the economic challenges for global economies that rely on energy imports."

Separately, JPMorgan ( JPM ) Chief Executive Jamie Dimon said that supply disruptions caused by the Iran war could keep inflation and interest rates higher than expected.

US Treasury yields were mixed, with the 10-year rate down one basis point at 4.34% and the two-year rate little changed at 3.85%.

In economic news, US services sector growth slowed more than expected in March, with the price measure reaching its highest level in more than three years amid elevated oil and fuel costs due to the ongoing Middle East conflict, the Institute for Supply Management said.

"Another decent ISM activity print is consistent with the US economy growing at a 2.5% annual pace in 2026," ING Bank said in a note. "The concern is that the jobs component dropped sharply in March and prices paid jumped, suggesting growing business caution in the wake of heightened economic and market angst tied to the conflict in the (Middle) East."

Separately, BMO Capital Markets said that the latest ISM readings on prices and employment are likely to keeps the Federal Reserve "in a difficult position and reinforces the case for patience."

On Friday, official data showed that the US economy added 178,000 jobs in March, more than double the 65,000 increase expected in a Bloomberg-compiled survey.

The stronger-than-expected report allays labor market concerns that may have arisen following February's weak data, allowing the Fed to stay put as it assesses the economic impact of the Iran war, economists said.

In company news, Seagate Technology ( STX ) shares rose 5.6% Monday, among the top gainers on the S&P 500, as Morgan Stanley raised its price target on the stock to $582 from $468.

Neurocrine Biosciences ( NBIX ) agreed to acquire Soleno Therapeutics ( SLNO ) in a deal worth $2.9 billion. Soleno shares jumped 32%, while Neurocrine rose 0.7%.

Invesco ( IVZ ) was the second-worst performer on the S&P 500, down 5.2%, as Goldman Sachs lowered its price target on the company's stock to $27 from $30.

Gold was little changed at $4,678.10 per troy ounce, while silver rose 0.3% to $73.11 per ounce.