The stock market was bouncing back on Monday amid some reprieve in the surge in oil prices as global markets sized up the conflict between Israel and Iran.

The Dow Jones Industrial Average was up 423 points, or 1%. The S&P 500 was up 1%. The Nasdaq Composite was up 1.3%.

Stocks gained steam after the The Wall Street Journal reported, citing Middle Eastern and European officials, that Iran has been urgently signaling it wants to end hostilities and continue negotiations regarding its nuclear programs.