US close: Stocks advance despite Trump's dismissal of Iran peace offer

(Sharecast News) - Major indices traded higher on Monday despite Donald Trump's rejection of Iran's latest proposal to end their conflict.

At the close, the Dow Jones Industrial Average and the S&P 500 were up 0.19% at 49,704.47 and 7,412.84, respectively, and the Nasdaq Composite saw out the session 0.10% firmer at 26,274.13.

The Dow closed 95.31 points higher on Monday, extending modest gains recorded in the previous session after April's nonfarm payrolls report showed the US economy had added 115,000 jobs in April - comfortably ahead of the 63,000 expected.

Stocks closed higher after Iran submitted a new proposal to US negotiators aimed at ending the monthslong conflict, with the counteroffer calling for a halt to fighting on all fronts and the lifting of sanctions on Tehran, according to Tasnim.

However, Trump dismissed the response in a social media post, calling it "TOTALLY UNACCEPTABLE!". Oil futures rose in overnight trading following his comments, with West Texas Intermediate up 2.97% at $98.25 a barrel, while international benchmark Brent crude was changing hands at $104.26 a barrel - up 2.93%.

Fears regarding a prolonged conflict in the Middle East also grew after Israel's Benjamin Netanyahu said its conflict with Iran was "not over", while Donald Trump said the month-long ceasefire was now "on life support".

On the macro front, US existing home sales ticked slightly higher in April, according to the National Association of Realtors, rising 0.2% from March's sevenmonth low to an annualised 4.02m units. April's reading came in just below expectations for 4.05m, with activity held back by higher mortgage rates after a surge in energy prices pushed longterm Treasury yields higher. Regionally, sales fell sharply in the West, down 2.6% to 750,000 units, offsetting a 2.2% increase in the Midwest to 950,000. Inventory rose 5.8% to 1.47m homes, equivalent to 4.4 months of supply.

No major corporate earnings were released on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $129.44 13.54%

Dow Chemical Co. (DOW) $38.76 5.13%

Cisco Systems Inc. (CSCO) $98.72 4.90%

Caterpillar Inc. (CAT) $926.79 3.27%

Chevron Corp. (CVX) $184.74 1.72%

Visa Inc. (V) $323.86 1.59%

Unitedhealth Group Inc. (UNH) $384.44 1.17%

Goldman Sachs Group Inc. (GS) $944.86 0.89%

Boeing Co. (BA) $238.21 0.36%

Coca-Cola Co. (KO) $78.66 0.31%

Dow Jones - Fallers

Nike Inc. (NKE) $42.39 -3.96%

Walt Disney Co. (DIS) $104.72 -3.05%

International Business Machines Corporation (CDI) (IBM) $223.55 -2.70%

Salesforce.Com Inc. (CRM) $177.49 -2.38%

Procter & Gamble Co. (PG) $143.36 -2.09%

Home Depot Inc. (HD) $311.40 -1.91%

American Express Co. (AXP) $312.32 -1.17%

Microsoft Corp. (MSFT) $412.66 -1.06%

JP Morgan Chase & Co. (JPM) $300.00 -0.70%

McDonald's Corp. (MCD) $274.60 -0.42%

S&P 500 - Risers

Micron Technology Inc. (MU) $795.33 14.18%

Intel Corp. (INTC) $129.44 13.54%

QUALCOMM Inc. (QCOM) $237.53 11.16%

Corning Inc. (GLW) $207.39 11.01%

CF Industries Holdings Inc. (CF) $124.48 8.23%

Advanced Micro Devices Inc. (AMD) $458.79 7.94%

Western Digital Corp. (WDC) $515.83 7.85%

Akamai Technologies Inc. (AKAM) $153.01 7.26%

Fortinet Inc. (FTNT) $115.44 6.66%

Seagate Technology Plc (STX) $834.01 6.53%

S&P 500 - Fallers

TripAdvisor Inc. (TRIP) $9.66 -11.05%

Kohls Corp. (KSS) $13.09 -9.72%

Whirlpool Corp. (WHR) $41.08 -8.63%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Advance Auto Parts (AAP) $51.83 -7.69%

Dollar General Corp (DG) $104.63 -7.64%

Charter Communications Inc. (CHTR) $147.79 -7.57%

Zoetis Inc (ZTS) $76.67 -7.44%

Dollar Tree Inc (DLTR) $90.02 -7.16%

Gap Inc. (GAP) $21.74 -6.97%

Nasdaq 100 - Risers

Micron Technology Inc. (MU) $795.33 14.18%

Intel Corp. (INTC) $129.44 13.54%

QUALCOMM Inc. (QCOM) $237.53 11.16%

Western Digital Corp. (WDC) $515.83 7.85%

Seagate Technology Plc (STX) $834.01 6.53%

Skyworks Solutions Inc. (SWKS) $70.13 5.99%

Tesla Inc (TSLA) $445.00 5.79%

Cisco Systems Inc. (CSCO) $98.72 4.90%

Applied Materials Inc. (AMAT) $443.62 4.42%

Illumina Inc. (ILMN) $142.51 3.40%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Mercadolibre Inc. (MELI) $1,557.30 -7.68%

Charter Communications Inc. (CHTR) $147.79 -7.57%

Dollar Tree Inc (DLTR) $90.02 -7.16%

Intuitive Surgical Inc. (ISRG) $420.06 -6.34%

Idexx Laboratories Inc. (IDXX) $532.00 -5.91%

Booking Holdings Inc. (BKNG) $157.80 -5.59%

Ross Stores Inc. (ROST) $214.55 -4.94%

Comcast Corp. (CMCSA) $25.03 -4.08%

Wynn Resorts Ltd. (WYNN) $99.37 -3.86%