US stocks extend gains as oil prices fall more
- S&P 500 gained 0.6% while Nasdaq Composite Index advanced 1.1%
Wall Street stocks rose Tuesday, extending a rally driven by strong corporate earnings and Treasury Secretary Bessent's comments on potential Iran talks, which pressured oil prices.
- US Treasury Secretary's comments on Iran talks
- Specific stock movements following corporate earnings
- Major market indices performance and new highs
NEW YORK: Wall Street stocks rose early Tuesday, extending a rally following strong corporate earnings and comments from US Treasury Secretary Scott Bessent on Iran talks that pressured oil prices.
Bessent told CNBC that the United States could reach a deal with Iran to reopen the Strait of Hormuz by Wednesday.
Iran has denied that the two sides are talking to resolve the more than five-month conflict and earlier US statements signaling a likely imminent deal have proven overly optimistic, but oil prices tumbled on Bessent’s statements.
About five minutes into trading, the Dow Jones Industrial Average was up 1.3 percent at 53,832.40.
The broad-based S&P 500 gained 0.6 percent to 7,644.30, while the tech-rich Nasdaq Composite Index advanced 1.1 percent to 26,185.99.
The Dow on Monday finished at an all-time high on lower oil prices and gains by several leading technology companies.
In early trading Tuesday, Caterpillar rose 11.7 percent and Palantir surged 17.6 percent following earnings. But Pfizer dipped 0.9 percent after it reported a loss following unfavorable clinical results.
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