LIVE MARKETS-Wall Street mixed as Iran worries persist
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WALL STREET STOCKS MIXED AS IRAN WORRIES PERSIST
Major U.S. stock indexes are mixed with just modest changes in early trading Monday, with the energy and materials sectors up more than 1% each and investor worries over the Middle East persisting as President Donald Trump rejected Iran's response to a U.S. peace proposal.
The news is driving oil prices higher and fanning fears that the 10-week-old conflict will continue to paralyze shipping through the Strait of Hormuz.
Materials .SPLRCM, up 1.4%, are leading sector gainers, along with energy, also up more than 1%. Communication services .SPLRCL is more than 1% lower.
Hopes of a peace deal had driven the market up sharply recently. Friday's reassuring jobs report has helped as well, with the S&P 500 .SPX and the Nasdaq .IXIC rising to fresh all-time closing highs on that day.
The first-quarter U.S. earnings season is quickly winding down, with year-over-year profit growth for S&P 500 companies for the quarter now at 28.6%, according to data Friday from Tajinder Dhillon, head of earnings research at LSEG.
Here is the early market snapshot:
(Caroline Valetkevitch)
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EARLIER ON LIVE MARKETS:
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SELL ANY BEAR MARKET RALLY IN LUXURY NAMES - BERENBERG CLICK HERE
ECB HIKING PATH IN A CREDIBLE ESCALATION SCENARIO CLICK HERE
TIME TO INVEST IN DEFENCE? CLICK HERE
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EUROPE BEFORE THE BELL: PEACE TALKS SUFFER ANOTHER HICCUP CLICK HERE
PEACE PROGRESS STALLS, AI RALLY DOES NOT CLICK HERE