US open: Stocks higher in early trading as oil slips on Iran roadmap

(Sharecast News) - Major indices were in the green early on Monday as investors weighed the latest signals from negotiations to end the Iran conflict and looked ahead to a key inflation reading later in the week.

As of 1445 BST, the Dow Jones Industrial Average was up 0.43% at 51,784.86, while the S&P 500 advanced 0.33% to 7,525.50 and the Nasdaq Composite came out of the gate 0.04% firmer at 26,527.71.

The Dow Jones opened 220.16 points higher on Monday as traders returned from the Juneteenth long weekend.

Crude oil prices slipped into negative territory after mediators Qatar and Pakistan said US and Iranian officials had agreed to a roadmap aimed at securing a final deal within 60 days, according to the report. West Texas Intermediate was last seen 1.69% lower at $74.57 a barrel, while international benchmark Brent crude was down 2.47% at $78.58 a barrel.

However, Treasury yields rose amid lingering tensions between Iran and the US, with the yield on the two-year note hitting a high of 4.0442%, while the benchmark ten-year note was 4.5048% - its highest level since June.

Outside of geopolitics, the main focus for markets this week will be Thursday's May personal consumption expenditures index, the Federal Reserve's preferred inflation gauge, with economists expecting to see core PCE, which strips out volatile food and energy costs, to rise from April's level, keeping pressure on the central bank.

Following last week's hawkish Fed meeting, traders brought forward expectations of the next interestrate increase to as early as October. With ratehike bets firming, investors will now be highly sensitive to any inflation data that could reinforce the case for tighter policy.

No major corporate earnings were slated for release on Monday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $133.99 12.48%

Caterpillar Inc. (CAT) $985.82 3.13%

Walt Disney Co. (DIS) $103.89 3.00%

Nike Inc. (NKE) $45.20 2.29%

Home Depot Inc. (HD) $334.28 2.08%

3M Co. (MMM) $160.60 0.84%

Cisco Systems Inc. (CSCO) $119.54 0.72%

Travelers Company Inc. (TRV) $307.81 0.57%

Unitedhealth Group Inc. (UNH) $400.96 0.36%

Dowdupont Inc. (DWDP) $0.00 0.00%

Dow Jones - Fallers

International Business Machines Corporation (CDI) (IBM) $249.10 -5.05%

Amgen Inc. (AMGN) $337.60 -2.73%

Johnson & Johnson (JNJ) $228.39 -2.48%

JP Morgan Chase & Co. (JPM) $325.22 -2.47%

Dow Chemical Co. (DOW) $31.73 -2.37%

Chevron Corp. (CVX) $173.63 -2.23%

Microsoft Corp. (MSFT) $379.40 -2.18%

Salesforce.Com Inc. (CRM) $151.78 -2.09%

McDonald's Corp. (MCD) $278.61 -1.84%

Merck & Co. Inc. (MRK) $113.87 -1.40%

S&P 500 - Risers

Carmax Inc. (KMX) $53.66 13.16%

Intel Corp. (INTC) $133.99 12.48%

Corning Inc. (GLW) $194.92 11.13%

Micron Technology Inc. (MU) $1,133.99 8.79%

Broadcom Inc. (AVGO) $411.35 6.72%

Under Armour Inc. Class A (UAA) $6.06 6.32%

Under Armour, Inc. (UA) $5.87 6.15%

Take-Two Interactive Software Inc. (TTWO) $239.28 5.22%

Stanley Black & Decker Inc. (SWK) $86.75 5.19%

KLA-Tencor Corp. (KLAC) $259.56 4.93%

S&P 500 - Fallers

Accenture Plc (ACN) $127.98 -17.97%

Cognizant Technology Solutions Corp. (CTSH) $43.70 -12.21%

Charter Communications Inc. (CHTR) $126.23 -9.28%

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

Kroger Co. (KR) $56.61 -8.43%

Omnicom Group Inc. (OMC) $71.35 -6.50%

Nasdaq Inc (NDAQ) $82.24 -6.01%

L3Harris Technologies Inc. (LHX) $294.82 -5.86%

Northrop Grumman Corp. (NOC) $521.50 -5.21%

International Business Machines Corporation (CDI) (IBM) $249.10 -5.05%

Nasdaq 100 - Risers

Intel Corp. (INTC) $133.99 12.48%

Micron Technology Inc. (MU) $1,133.99 8.79%

Broadcom Inc. (AVGO) $411.35 6.72%

Take-Two Interactive Software Inc. (TTWO) $239.28 5.22%

KLA-Tencor Corp. (KLAC) $259.56 4.93%

Texas Instruments Inc (TXN) $322.86 4.72%

Western Digital Corp. (WDC) $746.23 4.24%

QUALCOMM Inc. (QCOM) $226.11 3.64%

Dollar Tree Inc (DLTR) $111.65 2.83%

Microchip Technology Inc. (MCHP) $99.77 2.56%

Nasdaq 100 - Fallers

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

Cognizant Technology Solutions Corp. (CTSH) $43.70 -12.21%

Charter Communications Inc. (CHTR) $126.23 -9.28%

Liberty Global plc Series C (LBTYK) $10.79 -6.70%

Liberty Global plc Series A (LBTYA) $11.20 -6.67%

Workday, Inc. (WDAY) $116.93 -5.70%

Kraft Heinz Co. (KHC) $22.82 -4.24%

O'Reilly Automotive Inc. (ORLY) $86.84 -3.97%

Trip.com Group Limited (TCOM) $45.10 -3.92%

Comcast Corp. (CMCSA) $22.43 -3.68%