US Equity Markets End Higher Amid Pause in US-Iran Hostilities

MT Newswires Live04:15

US equity indexes were higher on Monday after the US and Iran paused hostilities, followed by gains in technology, communication services, and consumer discretionary stocks.

* The United States and Iran on Monday separately announced they will send delegations to Qatar this week, though Tehran insisted it has not agreed to meet with the US "at any level" after attacks across the Persian Gulf over the weekend challenged negotiations to end the war, the Associated Press reported.

* The Dallas Fed's monthly manufacturing index fell to 0.0 in June from 0.4 in May, missing expectations for an increase to 1.0.

* August West Texas Intermediate crude oil rose $1.24 to settle at $70.47 per barrel, while August Brent crude, the global benchmark, was last seen up $0.87 at $72.86.

* Astera Labs (ALAB) shares were up roughly 16%, the top gainer on the Nasdaq, after UBS adjusted the company's price target to $400 from $205 while maintaining its neutral stock rating.

* Copart (CPRT) shares were down nearly 8%, the worst performer on the Nasdaq and among the worst on the S&P 500, after the company said that Jeff Liaw will step down as chief executive officer and director, effective July 31.

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