Dow, S&P 500 rise as oil prices tumble
- S&P 500 gained 0.1% while Nasdaq Composite Index dipped 0.1%
Wall Street stocks mostly rose as oil prices tumbled due to US-Iran de-escalation, with markets also anticipating key corporate earnings and a Federal Reserve interest rate decision.
- US-Iran de-escalation and its impact on oil prices.
- Upcoming corporate earnings from tech and industrial giants.
- Federal Reserve's impending interest rate decision.
NEW YORK: Wall Street stocks mostly rose early Monday as oil prices tumbled after the United States and Iran paused military strikes while markets anticipated key earnings and a Federal Reserve decision.
US ambassador to the United Nations Mike Waltz told Fox News that President Donald Trump would give negotiations “a little bit of room,” while Iran army spokesman Mohammad Akraminia said Iran had also halted military strikes.
Crude prices were down more than six percent early Monday.
About 55 minutes into trading, the Dow Jones Industrial Average was up 0.7 percent at 52,298.68.
The broad-based S&P 500 gained 0.1 percent to 7,419.79, while the tech-rich Nasdaq Composite Index dipped 0.1 percent to 24,957.07.
Besides the US-Iran war, markets are also planning to comb through a heavy week of corporate earnings, including results from tech heavyweights Amazon and Microsoft, as well as industrial companies like Boeing and ExxonMobil.
On Wednesday, the Federal Reserve will release its second interest rate decision under new chairman Kevin Warsh. Warsh has highlighted the need for price stability, but futures markets currently see about 62 percent odds the Fed will keep interest rates unchanged.
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