- Wall Street opened higher after Trump hinted at a Middle East conflict resolution
- Nasdaq rose 1.54%, Dow Jones gained 1.76%, and S&P 500 increased 1.42%
- All 11 sectoral indices traded up, led by Consumer Discretionary and Industrials
The Wall Street opened in the green on Monday, after days of slump, after US President Donald Trump hinted at a possible resolution of the ongoing conflict in the Middle East.
The tech-heavy Nasdaq Composite opened 1.54% or 332.41 points higher at 21,980.02, whereas the Dow Jones Industrial Average rose 1.76% or 804.09 points to 46,381.56. The broader index, S&P 500, opened 1.42% or 92.35 points higher at 6,598.83.
Trump has said that there would be a five-day pause on attacks on Iran's energy infrastructure, conditional to the success of these talks. "I am pleased to report that the United States of America, and the country of Iran, have had, over the last two days, very good and productive conversations regarding a complete and total resolution of our hostilities in the Middle East," he posted on Truth Social.
After the market opened, all 11 sectoral indices traded in the green. The upitck was led by the Consumer Discretionary sector, which was up over 3%, followed by the Industrials sector that rose 2.5%, and the Information Technology sector which increased more than 2%.
ALSO READ: Gold, Silver Pare Losses As Trump Delays Iran Energy Strikes
Gains in big tech lifted the Nasdaq index which shot up over 1% within the first hour of trade. Nvidia Corp. traded 2.61% higher at $177.21, Amazon.com Inc. jumped 2.89% to $211.31, and Google-parent Alphabet Inc. advanced by 0.84% to $303.52.
Besides this, Microsoft Corp. shares traded 0.93% higher at $385.44, Meta Platforms Inc. traded 1.51% higher at $602.60, and Tesla rose sharply by 3.78% to trade at $381.88.
Crude oil saw a downturn, with the West Texas Intermediate trading 9.09% lower at $96.75 a barrel and Brent futures trading 8.76% lower at $97.09. Spot gold pared the sharp losses from earlier in the day, but was still down 0.76% at $4,456.81 an ounce.
Bitcoin, the largest traded cryptocurrency, rose 4.27% to $71,673.
ALSO READ: Middle East War To End Soon? What We Know So Far As Trump Hints At Breakthrough, Iran Denies
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