Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

WALL STREET RALLIES AS MIDEAST TENSIONS EASE; DOW EYES RECORD CLOSE

Wall Street's main indexes are higher early on Monday as easing tensions in the Middle East are lifting sentiment following days of hostilities between the U.S. and Israel on one side and Iran on the other.

A U.S. official said on Sunday that the two sides will de-escalate, bolstering hopes that an interim peace deal signed earlier this month could hold.

Five out of 11 of S&P 500 .SPX sectors are green with communication services .SPLRCL and consumer discretionary .SPLRCD, both up more than 2%, the leading gainers.

With this, the Magnificent Seven ETF MAGS.K is rallying around 2.5%. Software & services .SPLRCIS is also an outperformer.

Materials .SPLRCM, off more than 1%, is the weakest group.

On Friday, the S&P 500 ended below its 50-day moving average for the first time since April 7. That said, with Monday's early strength, the SPX, which is now around 7,385, is attempting to quickly reclaim this closely followed intermediate-term moving average, which now resides around 7,370.

Meanwhile, the Dow .DJI is on track for a record closing high.

Here is a snapshot of where markets stood around 10 a.m. ET.

(Terence Gabriel)

*****

EARLIER ON LIVE MARKETS:

BIG TECH’S ROUGH JUNE PUTS MAGNIFICENT SEVEN UNDER PRESSURE CLICK HERE

LUXURY SENTIMENT MAKES PEACE WITH SLOWER GROWTH CLICK HERE

COPPER/GOLD RATIO SHOWING SIGNS OF LIFE: CONSTRUCTIVE FOR MINERS? CLICK HERE

ENERGY SET TO ANCHOR EUROPE'S Q2 EARNINGS GROWTH CLICK HERE

EUROPEAN STOCKS HOLD STEADY CLICK HERE

EUROPE BEFORE THE BELL: FUTURES INCH UP CLICK HERE

MARKETS SWIVEL ON TECH, MIDEAST ANGST CLICK HERE