J.P. Morgan is optimistic about the stock market's pullback buying opportunity, but believes that the premium on oil prices may not be sustainable.

Mislav Matejka of J.P. Morgan wrote in a research report that investors with a time horizon of 3 to 12 months should buy in during the stock market pullback caused by the escalation of tensions in the Middle East. The analyst pointed out that although the outcome of the conflict is unpredictable, political pressures suggest that this escalation is unlikely to be prolonged. The stock market experienced selling on Monday, partly due to concerns that rising oil prices could lead to inflationary shocks. Matejka believes that these concerns are unnecessary as oversupply may lead to a drop in oil prices. European stock markets generally fell, with the Stoxx 600 index dropping by 1.7%. U.S. stock index futures also declined, with the tech-heavy Nasdaq index falling by 1.1%.