Source: Sharecast
At the close, the Dow Jones Industrial Average was up 0.63% at 48,218.25, while the S&P 500 advanced 1.02% to 6,886.24 and the Nasdaq Composite saw out the session 1.23% firmer at 23,183.74.
The Dow closed 301.68 points higher on Monday, almost reversing losses recorded in the previous session as investors paused for breath following the recent rally.
Stocks initially traded lower on Monday after Donald Trump announced a blockade of the Strait of Hormuz after weekend peace talks between Washington and Tehran ended without an agreement. collapse of negotiations in Islamabad reignited concerns that the conflict with Iran could drag on, fuelling higher oil prices and adding further strain to the global economy.
"Effective immediately, the United States Navy, the Finest in the World, will begin the process of BLOCKADING any and all Ships trying to enter, or leave, the Strait of Hormuz," Trump said. "The Blockade will begin shortly. Other Countries will be involved with this Blockade. Iran will not be allowed to profit off this Illegal Act of EXTORTION."
US Central Command said it would begin blocking all maritime traffic in and out of Iran's ports at 1500 BST on Monday, while Trump was also said to be considering resuming military strikes on the Middle East nation, according to the Wall Street Journal.
However, stocks traded higher later in the session after Donald Trump said" "We've been called by the other side", adding that "they'd like to make a deal very badly." Axios also reported that mediators from Pakistan, Egypt and Turkey would continue talks with both Iran and the US over the coming days.
On the macro front, US existing home sales fell by 3.6% in March to an annualised rate of 3.98m, according to the National Association of Realtors, falling short of expectations of a smaller drop to 4.06m. Unsold inventory increased 3% to 1.36m homes, equivalent to 4.1 months of supply at the current sales pace, while the median price of an existing home ticked up 1.4% year‑on‑year to $408,800.
In the corporate space, Goldman Sachs posted first‑quarter numbers on Monday, delivering earnings and revenue that came in ahead of Wall Street forecasts at $17.55 per share and $17.23bn, respectively. However, the stock traded lower in early action as its fixed income unit reported quarterly figures that disappointed investors.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $65.20 5.64%
Salesforce.Com Inc. (CRM) $172.82 4.76%
American Express Co. (AXP) $323.82 3.29%
International Business Machines Corporation (CDI) (IBM) $237.82 3.06%
Unitedhealth Group Inc. (UNH) $313.00 2.85%
Dow Chemical Co. (DOW) $40.11 2.82%
Microsoft Corp. (MSFT) $384.37 2.41%
Boeing Co. (BA) $222.14 2.07%
Walt Disney Co. (DIS) $101.18 2.03%
Chevron Corp. (CVX) $191.78 1.71%
Dow Jones - Fallers
Cisco Systems Inc. (CSCO) $82.35 -2.13%
Goldman Sachs Group Inc. (GS) $890.79 -1.87%
Coca-Cola Co. (KO) $76.41 -1.37%
Verizon Communications Inc. (VZ) $45.42 -1.35%
Procter & Gamble Co. (PG) $143.58 -1.09%
Merck & Co. Inc. (MRK) $120.15 -1.05%
Amgen Inc. (AMGN) $349.82 -0.84%
McDonald's Corp. (MCD) $304.51 -0.38%
Johnson & Johnson (JNJ) $237.96 -0.21%
Apple Inc. (AAPL) $259.23 -0.13%
S&P 500 - Risers
Oracle Corp. (ORCL) $155.62 12.69%
Leggett & Platt Inc. (LEG) $11.25 12.61%
Robert Half Inc. (RHI) $25.80 9.37%
Celanese Corp. (CE) $68.22 8.06%
Dxc Technology Company (DXC) $12.28 7.34%
Gartner Inc. (IT) $154.22 7.31%
Fidelity National Information Services Inc. (FIS) $46.43 7.06%
Accenture Plc (ACN) $191.95 6.92%
Albemarle Corp. (ALB) $185.43 6.79%
Intel Corp. (INTC) $65.20 5.64%
S&P 500 - Fallers
Akamai Technologies Inc. (AKAM) $94.94 -12.12%
Fastenal Co. (FAST) $45.82 -6.76%
ConAgra Brands Inc (CAG) $14.51 -4.41%
Edison International (EIX) $72.39 -4.40%
Costco Wholesale Corp. (COST) $980.85 -4.10%
Gap Inc. (GAP) $25.28 -3.88%
Newmont Corporation (NEM) $116.50 -3.64%
Target Corp. (TGT) $117.88 -3.29%
AT&T Inc. (T) $25.61 -3.21%
Kraft Heinz Co. (KHC) $22.42 -3.20%
Nasdaq 100 - Risers
Workday, Inc. (WDAY) $119.92 6.54%
Intel Corp. (INTC) $65.20 5.64%
Adobe Systems Inc. (ADBE) $240.11 4.43%
Intuit Inc. (INTU) $369.44 4.24%
Western Digital Corp. (WDC) $350.16 4.21%
Synopsys Inc. (SNPS) $417.77 4.16%
Expedia Group Inc. (EXPE) $240.21 3.82%
Paypal Holdings Inc (PYPL) $47.51 3.76%
Align Technology Inc. (ALGN) $180.67 3.52%
Cadence Design Systems Inc. (CDNS) $288.20 3.52%
Nasdaq 100 - Fallers
Fastenal Co. (FAST) $45.82 -6.76%
Costco Wholesale Corp. (COST) $980.85 -4.10%
Qvc Group Inc Series A (QVCGA) $2.21 -3.36%
Kraft Heinz Co. (KHC) $22.42 -3.20%
Cisco Systems Inc. (CSCO) $82.35 -2.13%
T-Mobile Us, Inc. (TMUS) $192.43 -2.08%
Regeneron Pharmaceuticals Inc. (REGN) $746.46 -1.75%
Wynn Resorts Ltd. (WYNN) $103.06 -1.70%
Mondelez International Inc. (MDLZ) $57.68 -1.65%
Applied Materials Inc. (AMAT) $395.78 -1.54%
