(Sharecast News) - Wall Street trading got off to a positive start on Monday as investors continued to digest news that Donald Trump had ordered US bombers to strike Iran.
As of 1515 BST, the Dow Jones Industrial Average was up 0.43% at 42,389.11, while the S&P 500 advanced 0.59% to 6,002.79 and the Nasdaq Composite came out of the gate 0.62% firmer at 19,567.88.
The Dow opened 182.29 points higher on Monday, extending modest gains recorded in the previous session amid ongoing uncertainty regarding America's potential involvement in the Middle East conflict.
However, the question as to just what America's involvement in the conflict would be was answered on Saturday after the US attacked Iranian sites in Fordo, Isfahan and Natanz, confounding those who had expected to see further efforts to resolve the situation diplomatically after Trump said he would make a decision whether or not to attack Iran "within the next two weeks".
Following the attacks, Trump said, "there will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days". Markets now brace for Iran's next move, with the Middle Eastern nation potentially looking to target nearby US personnel or close the Strait of Hormuz, massively disrupting global oil flows.
Oil prices, which had already surged in recent weeks as a result of the increased tensions in the Middle East, hit highs not seen since January on Sunday night before later paring those gains, with Brent crude 0.21% lower at $76.85 a barrel as of 1455 BST, while West Texas Intermediate was 0.27% lower at $73.64 per barrel.
Donald Trump called on "everyone" to "keep oil prices down". "EVERYONE, KEEP OIL PRICES DOWN. I'M WATCHING! YOU'RE PLAYING RIGHT INTO THE HANDS OF THE ENEMY. DON'T DO IT!," he said on social media.
On the macro front, private sector activity in the United States increased at a slightly slower rate in June as goods prices jumped, but growth still came in ahead of analysts' expectations. The preliminary reading of the S&P Global composite purchasing managers' index slipped to 52.8 in June, down from 53.0 in May.
While the rate of expansion remains well below that seen late last year - the composite PMI ranged between 54 and 55 for the second half of 2024 - this was still the 29th straight month of readings above 50 , which separate growth from contraction. The service-sector PMI eased to 53.1 from 53.7, while the manufacturing PMI held steady at 52, with both readings beating the consensus forecasts of 52.9 and 51, respectively.
Elsewhere, existing home sales increased by 0.8% in May to a seasonally adjusted annualised rate of 4.03m, according to the National Association of Realtors, bouncing back from the previous month's 0.5% drop and ahead of expectations for a decline to 3.96m.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
International Business Machines Corporation (CDI) (IBM) $285.29 1.54%
Apple Inc. (AAPL) $201.69 1.37%
Caterpillar Inc. (CAT) $365.42 1.36%
Coca-Cola Co. (KO) $69.58 1.07%
Cisco Systems Inc. (CSCO) $66.98 1.05%
Verizon Communications Inc. (VZ) $42.07 0.89%
3M Co. (MMM) $145.09 0.74%
Boeing Co. (BA) $200.18 0.72%
Home Depot Inc. (HD) $352.04 0.69%
Nike Inc. (NKE) $60.19 0.67%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $476.10 -1.38%
Intel Corp. (INTC) $21.50 -1.30%
Dow Chemical Co. (DOW) $27.42 -1.24%
Unitedhealth Group Inc. (UNH) $299.44 -0.85%
Amgen Inc. (AMGN) $289.72 -0.84%
Walgreens Boots Alliance, Inc. (WBA) $11.31 -0.83%
Walt Disney Co. (DIS) $116.81 -0.70%
McDonald's Corp. (MCD) $287.14 -0.11%
Chevron Corp. (CVX) $149.40 -0.10%
Visa Inc. (V) $338.25 -0.09%
S&P 500 - Risers
Northern Trust Corp. (NTRS) $122.40 9.23%
Nektar Therapeutics (NKTR) $9.05 7.84%
Arista Networks Inc. (ANET) $90.77 5.24%
Estee Lauder Co. Inc. (EL) $78.72 4.70%
FMC Corp. (FMC) $42.70 3.97%
CenturyLink Inc. (LUMN) $4.09 3.93%
Paypal Holdings Inc (PYPL) $71.75 3.74%
Fiserv Inc. (FI) $168.99 3.44%
Omnicom Group Inc. (OMC) $72.04 2.50%
Interpublic Group of Companies Inc. (IPG) $24.00 2.46%
S&P 500 - Fallers
Apache Corp. (APA) $19.44 -4.85%
Darden Restaurants Inc. (DRI) $215.72 -4.46%
Alphabet Inc. Class A (GOOGL) $166.18 -4.24%
Alphabet Inc. Class C (GOOG) $167.35 -4.08%
Carmax Inc. (KMX) $66.12 -3.57%
Norwegian Cruise Line Holdings Ltd (NCLH) $18.19 -3.53%
Diamondback Energy Inc. (FANG) $145.11 -2.90%
Under Armour Inc. Class A (UAA) $6.83 -2.85%
Macy's Inc. (M) $10.80 -2.31%
Under Armour, Inc. (UA) $6.44 -2.28%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $345.86 4.19%
Paypal Holdings Inc (PYPL) $71.75 3.74%
Fiserv Inc. (FI) $168.99 3.44%
O'Reilly Automotive Inc. (ORLY) $90.70 2.30%
Sirius XM Holdings Inc (SIRI) $22.18 2.18%
Microchip Technology Inc. (MCHP) $70.56 2.10%
Wynn Resorts Ltd. (WYNN) $89.65 1.77%
Apple Inc. (AAPL) $202.10 1.58%
Skyworks Solutions Inc. (SWKS) $72.83 1.52%
Charter Communications Inc. (CHTR) $391.70 1.36%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $2.96 -7.83%
Alphabet Inc. Class A (GOOGL) $166.18 -4.24%
Alphabet Inc. Class C (GOOG) $167.35 -4.08%
Amazon.Com Inc. (AMZN) $209.84 -2.09%
Vodafone Group Plc ADS (VOD) $10.12 -1.94%
Cognizant Technology Solutions Corp. (CTSH) $76.08 -1.83%
Meta Platforms Inc. (META) $686.65 -1.80%
Gen Digital Inc. (GEN) $29.00 -1.73%
Vertex Pharmaceuticals Inc. (VRTX) $442.51 -1.66%
Henry Schein Inc. (HSIC) $71.49 -1.60%
10.30 (0.12%)
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