LIVE MARKETS-Main US indexes jump at open, but gains quickly fade

Dow Jones Industrial Average
CBOE Volatility Index
American Century Mid Cap Growth Impact ETF
NASDAQ
S&P 500 index

Dow Jones Industrial Average

DJI

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CBOE Volatility Index

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American Century Mid Cap Growth Impact ETF

MID

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NASDAQ

IXIC

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S&P 500 index

SPX

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Dow up ~0.6%, S&P 500 up 0.4%, Nasdaq flips back to green

May Existing Home Sales 4.17M vs 4.07M estimate

Euro STOXX 600 index up ~0.6%

Dollar down; bitcoin falls >2%; US crude down >4%; gold turns red

US 10-year Treasury yield edges down to ~4.54%

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MAIN US INDEXES JUMP AT OPEN, BUT GAINS QUICKLY FADE

U.S. stocks jumped out of the gate on Tuesday, with the Nasdaq .IXIC rallying more than 1%, as chipmakers extended gains for a second day, while easing hostilities in the Middle East also lifted sentiment.

Iran and Israel said on Monday they had halted attacks on each other after an appeal from U.S. President Donald Trump, settling back into a tenuous ceasefire announced on April 8. With this, NYMEX crude futures CLc1 are trading down more than 3% on Tuesday.

In any event, chip stocks .SOX have seen an early surge completely evaporate, and the Nasdaq has turned negative.

Most of the 11 S&P 500 .SPX sectors are higher. Real estate .SPLRCR and materials .SPLRCM, both up more than 1.2%, are the leading gainers. Just energy .SPNY, and tech .SPLRCT, both down more than 1%, are on the losing side.

Under the surface, regional banks .KRX, big banks .SPXBK, small caps .RUT, and mid caps .MID are among the day's early outperformers.

Meanwhile, traders are watching as the S&P 500 attempts to reclaim its 20-day moving average, which is now resistance around 7,483. The SPX hit an early high of 7,483.15 before backing away sharply.

Here is a snapshot of where markets stood around 10:12 a.m. EDT.

(Terence Gabriel)

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EARLIER ON LIVE MARKETS:

S&P 500 DEFENDS KEY LINE AS BULLS PUSH FOR RECOVERY CLICK HERE

MORGAN STANLEY CUTS LONG-STANDING EUROPEAN DEFENCE OVERWEIGHT CLICK HERE

HALF-TIME IN EUROPE: CHIPS AHOY! CLICK HERE

INVESTORS BUILD UP CASH PILES AHEAD OF 'BIG THREE' IPOS CLICK HERE

QUIET START, FTSE LAGS CLICK HERE

BEFORE THE BELL: EUROPE BRINGS SOME CALM TO WORLD MARKETS CLICK HERE

MORNING BID: FORTUNE REALLY HAD BETTER FAVOUR THE BRAVE CLICK HERE


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