Stocks lost ground in early trading Tuesday, while oil prices moved higher, as investors monitored developments in the escalating conflict between Israel and Iran and digested disappointing economic data.

NEW YORK (AP) — Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

U.S. stocks closed higher on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Israel's attack on Iran sparked the biggest jump in crude oil prices since Russia's invasion of Ukraine more than three years ago. Stocks fell sharply.

U.S. stock indexes are drifting lower on Tuesday, while oil prices rise again. The S&P 500 was down 0.3% in midday trading following signals that one of the U.S. economy’s main engines, spending by households,

NEW YORK (AP) — Calm is returning to Wall Street, and U.S. stocks are rallying on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.