US open: Stocks trade higher as cooling oil prices lift sentiment

(Sharecast News) - Major indices pushed higher at the open on Monday as oil prices retreated, helped by a weekend pause in hostilities between the US and Iran.

As of 1455 BST, the Dow Jones Industrial Average was up 1.05% at 52,494.29, while the S&P 500 advanced 0.70% to 7,463.55 and the Nasdaq Composite came out of the gate 0.74% firmer at 25,160.86.

The Dow opened 547.04 points higher on Monday, extending gains recorded in the previous session.

Stocks traded higher early on Monday as oil prices headed south, with Brent crude for September delivery sliding 6.30% to $90.68 a barrel, while West Texas Intermediate dropped 5.89% to $84.05, easing some of the pressure that had built during recent geopolitical flareups.

Tensions elsewhere remained elevated, however, after Ukraine struck an Iranian commercial vessel in the Caspian Sea, prompting Tehran to accuse Kyiv of a "hostile and criminal act".

On the macro front, the Census Bureau revealed on Monday that new orders for USmanufactured durable goods ticked up 0.3% monthonmonth to $334.77bn in June, rebounding from a revised 4% drop in May but falling well short of expectations for a 1.6% increase. Orders excluding transportation were up 0.6%, with increases across capital goods, primary metals, computers and electronics, and electrical equipment. On the other hand, transportation orders slipped 0.2%, led by a 0.6% decline in motor vehicles and parts. Nondefence capital goods excluding aircraft rose 0.9%, following an upwardly revised 1.9% gain in May and coming in ahead of forecasts.

Still to come, the Dallas Federal Reserve's July manufacturing index will be published at 1530 BST.

No major corporate earnings were slated for release on Monday, but Amazon, Apple, Meta Platforms and Microsoft will all report earnings before the week is out.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Apple Inc. (AAPL) $335.73 3.52%

Salesforce.Com Inc. (CRM) $168.37 2.88%

Home Depot Inc. (HD) $340.20 2.64%

3M Co. (MMM) $176.46 2.63%

International Business Machines Corporation (CDI) (IBM) $218.91 2.20%

Microsoft Corp. (MSFT) $391.45 1.98%

Verizon Communications Inc. (VZ) $46.76 1.94%

Nike Inc. (NKE) $42.10 1.92%

Boeing Co. (BA) $213.47 1.86%

Goldman Sachs Group Inc. (GS) $1,086.90 1.77%

Dow Jones - Fallers

Intel Corp. (INTC) $94.67 -6.22%

Dow Chemical Co. (DOW) $28.70 -4.91%

Chevron Corp. (CVX) $190.77 -2.08%

Johnson & Johnson (JNJ) $263.38 -0.38%

Merck & Co. Inc. (MRK) $131.23 -0.05%

Dowdupont Inc. (DWDP) $0.00 0.00%

Walmart Inc. (WMT) $0.00 0.00%

Walgreens Boots Alliance, Inc. (WBA) $0.00 0.00%

Unitedhealth Group Inc. (UNH) $419.61 0.38%

Caterpillar Inc. (CAT) $891.65 0.44%

S&P 500 - Risers

American Airlines Group (AAL) $14.89 7.69%

Charter Communications Inc. (CHTR) $124.50 7.09%

VeriSign Inc. (VRSN) $280.39 7.02%

Cognizant Technology Solutions Corp. (CTSH) $46.31 6.81%

United Airlines Holdings Inc (UAL) $123.00 5.81%

Adobe Systems Inc. (ADBE) $231.13 5.64%

Dollar Tree Inc (DLTR) $124.55 4.90%

Tyson Foods Inc. (TSN) $60.43 4.56%

Intuit Inc. (INTU) $302.15 4.56%

Verisk Analytics Inc. (VRSK) $202.35 4.39%

S&P 500 - Fallers

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

Intel Corp. (INTC) $94.67 -6.22%

LyondellBasell Industries (LYB) $58.59 -3.96%

Advanced Micro Devices Inc. (AMD) $525.00 -3.51%

CH Robinson Worldwide Inc (CHRW) $182.64 -3.23%

KLA-Tencor Corp. (KLAC) $210.49 -3.22%

Apache Corp. (APA) $35.40 -3.15%

Ipg Photonics Corp. (IPGP) $92.19 -3.03%

Micron Technology Inc. (MU) $925.53 -2.96%

Archer-Daniels-Midland Co. (ADM) $83.34 -2.90%

Nasdaq 100 - Risers

Workday, Inc. (WDAY) $141.22 7.99%

American Airlines Group (AAL) $14.89 7.69%

Charter Communications Inc. (CHTR) $124.50 7.09%

Cognizant Technology Solutions Corp. (CTSH) $46.31 6.81%

Adobe Systems Inc. (ADBE) $231.13 5.64%

Dollar Tree Inc (DLTR) $124.55 4.90%

Intuit Inc. (INTU) $302.15 4.56%

Vodafone Group Plc ADS (VOD) $16.02 4.53%

Verisk Analytics Inc. (VRSK) $202.35 4.39%

Trip.com Group Limited (TCOM) $44.60 4.36%

Nasdaq 100 - Fallers

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

Intel Corp. (INTC) $94.67 -6.22%

Applied Materials Inc. (AMAT) $536.17 -3.24%

KLA-Tencor Corp. (KLAC) $210.49 -3.22%

Micron Technology Inc. (MU) $925.53 -2.96%

Lam Research Corp. (LRCX) $303.53 -2.72%

Illumina Inc. (ILMN) $192.49 -2.50%

Asml Holdings N.V. (ASML) $1,720.40 -2.41%

Seagate Technology Plc (STX) $866.83 -2.13%

Microchip Technology Inc. (MCHP) $79.97 -2.05%