Wall Street stocks mostly rose early Monday, greeting upbeat comments from US Vice President JD Vance about peace talks after US-Iran tensions rose over the weekend.
Vance said “a very good foundation” had been established for a final accord after a marathon round of negotiations in Switzerland.
Iranian officials also described the talks as constructive.
About 15 minutes into trading, the Dow Jones Industrial Average was up 0.4 percent at 51,775.51.
The broad-based S&P 500 added 0.1 percent at 7,509.47, while the tech-rich Nasdaq Composite Index fell 0.3 percent to 26,446.41.
Oil prices pulled back as traffic picked up in the Strait of Hormuz, which reopened last week after Iran and the United States unveiled the agreement.
But Tehran announced on Saturday that it had closed the strategic waterway again in response to Israeli attacks in Lebanon.
Since then, Tehran and Washington have agreed on mechanisms to end the fighting in Lebanon and secure the strait, through which a fifth of the world’s oil normally passes.
As of 1100 GMT on Monday, the Kpler maritime tracking platform had already recorded 15 transits by commodity ships.
The market is “taking it very well,” Adam Sarhan of 50 Park Investments said of the latest back-and-forth. “The markets believe that we’re moving closer to a deal with every day that passes.”
This week’s calendar includes May readings on consumer prices that are reviewed by Federal Reserve policy makers.
Add Comment