S&P 500 Edges Higher as Markets Price in Eventual Iran Resolution; Dow Weighed by Goldman
The S&P 500 inched higher on Monday as investors held out hope that the United States and Iran will ultimately reach a deal. The broad index rose 0.2%, while the Nasdaq Composite gained 0.6%. The Dow Jones Industrial Average fell 86 points, or 0.2%.
Technology shares helped support the broader market, with software names such as Oracle and Palantir Technologies jumping 10% and 4%, respectively. Goldman Sachs, however, was a drag on the Dow. The bank’s shares slipped 2% despite strong headline earnings, after investors reacted to weaker-than-expected trading results in its fixed-income unit.
The moves followed President Donald Trump’s announcement of a blockade tied to the Strait of Hormuz, after U.S.-Iran peace talks over the weekend ended without an agreement. The blockade of maritime traffic in and out of Iran’s ports took effect Monday. U.S. Central Command said the U.S. would not block vessels using the strait to reach non-Iranian ports.
The breakdown of negotiations in Islamabad revived concerns the Iran war could last longer than previously feared, lifting oil prices and raising the risk of renewed economic strain. West Texas Intermediate crude rose 5% to above $101 a barrel, while global benchmark Brent gained 6% to above $101.
Vice President JD Vance left Islamabad without a deal, citing Tehran’s unwillingness to halt pursuit of nuclear weapons. But the gap between the two sides appears broader, with Iran also demanding control over the Strait of Hormuz, war reparations, and the release of frozen assets, according to the report.
Source : Newsmaker.id
