04:45 PM EDT, 03/23/2026 (MT Newswires) -- US equity indexes rose on Monday after President Donald Trump's decision to postpone a threat to attack Iran's power infrastructure sent crude oil prices and government bond yields sharply lower.

The Nasdaq Composite advanced 1.4% to 21,946.76, the S&P 500 rose 1.2% to 6,581.00, and the Dow Jones Industrial Average climbed 1.4% to 46,208.47.

All sectors rose, with consumer discretionary, materials, and technology leading the top gainers.

The drop came after US President Trump paused a weekend threat to "obliterate" Iran's power plants if Iran did not fully open the Strait of Hormuz to tanker traffic by the end of Monday. In a 6:00 am ET social media post on Monday, Trump said he would postpone any action for five days.

The US and Iran have had over the last two days "very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," Trump said in the social media post. The constructive conversations will continue throughout the week, Trump added.

"I'll leave you to decide whether it's true that talks have evolved in such fashion, or whether Trump chickened out perhaps upon seeing markets or seeing Iran's response," Derek Holt, head of capital markets at Scotiabank, said in a note, referring to earlier moves in the equity, bonds, and commodities markets before the president's post. "Market moves are likely being overstated on position swings."

West Texas Intermediate crude oil futures sank 9.6% to $88.77.

US Treasury yields fell, with the 10-year down 4.4 basis points to 4.35% and the two-year retreated 4.8 basis points to 3.85%.

In precious metals, gold futures dropped 3.6% to $4,407.5 per troy ounce, and silver futures slipped 0.6% to $69.26 per troy ounce.

In company news, Estee Lauder ( EL ) is nearing a deal to combine with Puig, a Spanish owner of brands such as Jean Paul Gaultier and Dries Van Noten, to create a company worth more than $40 billion, the Financial Times reported Monday, citing people familiar with the matter. Shares of Estee Lauder ( EL ) slumped 7.7%, the worst performer on the S&P 500.

Higher fuel costs could improve the economics of electric vehicle ownership relative to internal combustion vehicles, supporting adoption, Oppenheimer said, highlighting Albemarle (ALB) due to stronger lithium demand. Shares of Albemarle were up 6.9%, the top gainer on the S&P 500.

Palantir Technologies ( PLTR ) is set to have its Maven artificial intelligence system designated as an official US military program of record, Reuters reported late Friday, citing a memo sent to Pentagon leaders and military commanders. Shares of Palantir ( PLTR ) surged 6.7%, the top gainer in the Nasdaq.

Thomson Reuters ( TMSOF ) shares fell 2.6%, among the worst performers in the Nasdaq, after Wells Fargo downgraded the stock to equal weight from overweight and reduced its price target to $95 from $120.

In economic news, US construction spending fell 0.3% in January, compared with a 0.1% increase expected in a Bloomberg-compiled survey, following an upwardly revised 0.8% increase in December.