NEW YORK — The Nasdaq Composite traded essentially unchanged in early action Tuesday, hovering near 26,604 as investors weighed fluctuating oil prices and ongoing uncertainty surrounding Middle East tensions against a backdrop of recent corporate earnings strength.

At 10:08 a.m. EDT, the tech-heavy index stood at 26,604.40, down a fractional 0.96 points or 0.0036 percent from the previous close. The muted move followed Monday's modest decline, when the Nasdaq fell about 0.3 percent to close near 26,605 amid a sharp rise in crude prices.

Broader markets showed a similarly cautious tone. The S&P 500 and Dow Jones Industrial Average fluctuated in a narrow range after both major indexes had recently touched or approached record territory. Energy shares provided some support as oil prices moved higher on supply concerns, while technology and growth-oriented sectors faced selective pressure.

Oil markets remained a central focus. Brent crude and West Texas Intermediate futures had climbed sharply on Monday, with gains of around 5 percent in some sessions, as traders assessed the prospects for restoring steady flows through the Strait of Hormuz. Higher energy costs raised questions about the path of inflation and the implications for Federal Reserve policy later this year. On Tuesday morning, prices continued to swing as reports of potential diplomatic developments mixed with persistent stalemate signals.

The Nasdaq's........

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