Wall Street opened on a mixed note on Monday, with S&P 500 and Nasdaq Composite in the green, and Dow Jones Industrial Average ticking marginally lower.
S&P 500 opened 0.17% or 11 points higher at 6,593.77, Nasdaq rose 0.32% or nearly 70 points at open to 21,949.01, whereas Dow Jones traded 0.06% lower at 46,477.99.
As of 10:06 a.m., S&P 500 traded little changed at 6,588.87, Nasdaq traded 0.17% higher at 21,917.28, and Dow Jones traded flat at 46,503.13.
Earlier in the day, an Axios report, which quoted four US, Israeli and regional sources, claimed that a partial deal may be reached between the parties within the next 48 hours. It highlighted that the deal may entail a potential 45-day ceasefire between the warring groups.
After the market opened six out of the 11 sectoral indices traded lower, while five traded in the green. Materials and Healthcare sectors led the decline, while Communication Services and Consumer Discretionary contributed most to gains.
Majority of the magnificent seven stocks traded higher, with only Microsoft Corp edging 0.42% lower to $372.05. On the other hand, Amazon.com Inc's stock rose over 1% to $212.02 and Meta Platforms Inc. followed suit and traded at $580.23.
Similarly, Apple Inc. jumped 1.11% to $258.94, Google-parent Alphabet Inc. traded 0.85% higher at $298.23, and Tesla Inc. rose 0.68% to $363.07. However, stock of chipmaker giant Nvidia Corp. slipped 0.3% to $176.73.
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The speculations regarding a possible truce had brought some relief in the commodities market as well with spot gold prices rising. As of 10 a.m. EST, spot gold traded 0.18% higher at $4,684.57 an ounce.
Crude oil prices continued their rally, with West Texas Intermediate rising 0.48% to $112.07 a barrel, and global benchmark Brent Crude trading 0.28% higher at $109.33 a barrel.
The Dollar Spot Index weakened against global currencies to fall 0.2%. Whereas, euro rose 0.3% to $1.1557, British pound rose 0.4% to $1.3253, and Japanese yen rose 0.1% to 159.44 per dollar.
Bitcoin, the largest traded cryptocurrency, rose 2.6% to $69,406.09.
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