The Dow Jones Industrial Average failed to hang onto the week’s early bullish tilt, and the major equity index has slipped back below 42,50. The Dow Jones remains embroiled in a consolidation zone that has plagued the Dow boards since mid-May.

The International Energy Agency tweaked its global oil demand forecast, now expecting demand to rise by 720,000 barrels a day this year versus 740,000 barrels previously, citing weak second-quarter deliveries in the U.

Oil prices leaped, and stocks slumped on worries that escalating violence following Israel’s attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

Monday’s bullish push has pared back some of last week’s late losses, pushing the Dow Jones Industrial Average back above 42,500. However, the major equity index remains embroiled in a consolidation zone that has plagued the Dow since mid-May.

Wholesale data showed milder inflationary pressures while Trump renewed his threat to impose "take it or leave it" tariffs on trading partners.

The Dow dropped more than 750 points Friday as investors fret over the risk of a widening war in the Middle East.

Chinese media outlet Xinhua reported Thursday that President Donald Trump and China President Xi Jinping held a phone call.