US open: Stocks higher as Trump hints at potential end to Iran military operations

(Sharecast News) - Major indices were in the green early on Tuesday after Donald Trump reportedly told aides that he was prepared to end military operations in Iran. As of 1515 BST, the Dow Jones Industrial Average was up 1.24% at 45,777.80, while the S&P 500 advanced 1.48% to 6,437.66 and the Nasdaq Composite came out of the gate 2.01% firmer at 21,212.04.

The Dow opened 561.66 points higher on Tuesday, extending gains recorded in the previous session after Fed head Jerome Powell said inflation expectations were "well anchored" beyond the short term and that there was no need for any further interest rate hikes at this time.

Stocks traded higher after a Wall Street Journal report said Trump had told aides he was prepared to end military operations in the Middle East even if the Strait of Hormuz was largely closed.

Oil prices initially traded higher after Bloomberg reported that Iran had struck a Kuwaiti oil tanker in UAE waters, with Dubai's government media office later stating that no injuries were reported and that "the safety of all 24 crew members has been secured". However, benchmark Brent crude fell 0.9% on the WSJ report, dropping 0.47% to $106.88 a barrel, while West Texas Intermediate slipped 0.04% to $102.84 a barrel.

On the macro front, the S&P/Case-Shiller 20-city composite home price index rose 1.2% year-on-yar in January, down from December's 1.4% increase and falling short of expetations for a flat reading - pointing to a slower-than-expected pace in the appreciation of single-family homes across the country and suggesting a potential cooling in the US housing market.

Elsewhere, the Chicago Business Barometer slipped to 52.8 in March, according to the Institute for Supply Management, down from a near four‑year high of 57.7 in February and coming in below expectations of 55.

On another note, US consumer confidence edged slightly higher in March, with the Conference Board's headline index rising to 91.8, up from 91.0 in February. The Present Situation Index strengthened to 123.3, reflecting improved assessments of current business and labour‑market conditions, while the Expectations Index slipped to 70.9 as households grew more cautious about the short‑term outlook.

Finally, US job openings were little changed at 6.9m in February, according to the Bureau of Labor Statistics, with hires slipping to 4.8m, while total separations held broadly steady at 5m. Within separations, quits edged down to 3m and layoffs and discharges were unchanged at 1.7m.

In the corporate space, Nike will report earnings after the close of trading.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Caterpillar Inc. (CAT) $689.21 2.97% JP Morgan Chase & Co. (JPM) $289.84 2.11% Boeing Co. (BA) $193.32 2.07% Goldman Sachs Group Inc. (GS) $823.98 1.94% Nike Inc. (NKE) $52.31 1.86% Microsoft Corp. (MSFT) $367.36 1.86% International Business Machines Corporation (CDI) (IBM) $240.82 1.71% Merck & Co. Inc. (MRK) $120.31 1.64% Unitedhealth Group Inc. (UNH) $265.05 1.53% Dow Chemical Co. (DOW) $42.44 1.50%

Dow Jones - Fallers

Intel Corp. (INTC) $42.31 -3.88% Cisco Systems Inc. (CSCO) $77.52 -2.85% Procter & Gamble Co. (PG) $143.43 -0.63% Verizon Communications Inc. (VZ) $49.92 -0.61% Coca-Cola Co. (KO) $76.10 -0.40% Apple Inc. (AAPL) $248.73 0.10%

S&P 500 - Risers

CenturyLink Inc. (LUMN) $6.82 6.65% Under Armour, Inc. (UA) $5.82 4.97% Under Armour Inc. Class A (UAA) $5.94 4.59% Kohls Corp. (KSS) $12.72 4.59% Meta Platforms Inc. (META) $557.80 4.30% Freeport-McMoRan Inc (FCX) $56.97 4.20% Carnival Corp. (CCL) $24.96 4.03% Celanese Corp. (CE) $66.76 3.91% Perrigo Company plc (PRGO) $10.06 3.91% Emerson Electric Co. (EMR) $128.21 3.82%

S&P 500 - Fallers

Micron Technology Inc. (MU) $322.11 -10.88% Western Digital Corp. (WDC) $263.26 -6.54% Ipg Photonics Corp. (IPGP) $111.00 -5.61% McCormick & Co. (MKC) $50.35 -5.55% Biogen Inc (BIIB) $181.00 -4.08% Nektar Therapeutics (NKTR) $67.17 -4.00% Intel Corp. (INTC) $42.31 -3.88% Advanced Micro Devices Inc. (AMD) $199.73 -3.82% Seagate Technology Plc (STX) $381.30 -3.76% Akamai Technologies Inc. (AKAM) $112.24 -3.47%

Nasdaq 100 - Risers

Qvc Group Inc Series A (QVCGA) $2.23 15.90% Meta Platforms Inc. (META) $557.80 4.30% Regeneron Pharmaceuticals Inc. (REGN) $769.77 3.20% Mercadolibre Inc. (MELI) $1,667.00 2.90% Gilead Sciences Inc. (GILD) $139.09 2.88% Vertex Pharmaceuticals Inc. (VRTX) $444.58 2.72% Hasbro Inc (HAS) $91.98 2.63% Verisk Analytics Inc. (VRSK) $189.35 2.56% Biomarin Pharmaceutical Inc. (BMRN) $55.83 2.53% Netflix Inc. (NFLX) $94.97 2.52%

Nasdaq 100 - Fallers

Micron Technology Inc. (MU) $322.11 -10.88% Western Digital Corp. (WDC) $263.26 -6.54% Biogen Inc (BIIB) $181.00 -4.08% Intel Corp. (INTC) $42.31 -3.88% Seagate Technology Plc (STX) $381.30 -3.76% Applied Materials Inc. (AMAT) $332.78 -3.05% Cisco Systems Inc. (CSCO) $77.52 -2.85% KLA-Tencor Corp. (KLAC) $1,421.51 -2.69% Lam Research Corp. (LRCX) $208.34 -2.37% DENTSPLY Sirona Inc. (XRAY) $11.35 -1.97%