[New York Stock Exchange] All Major Indices Open Higher... Nasdaq Jumps Over 1% on Tech Stock Rebound

US and Iran Agree to Halt Military Clashes

As the United States and Iran have agreed to halt military clashes, buying momentum expanded, particularly in technology stocks, with all three major U.S. indices starting higher on June 29 (local time).

At 9:36 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up 172.81 points, or 0.33%, at 52,048.92 compared to the previous trading day. The S&P 500 index, which focuses on large-cap stocks, rose 44.49 points (0.61%) to 7,398.51, while the Nasdaq index, which is heavily weighted toward technology stocks, jumped 289.85 points (1.15%) to 25,587.47.

New York Stock Exchange. New York (USA) – Special Correspondent Yoonjoo Hwang

The market on this day saw strong buying as news broke of the cessation of military clashes between the United States and Iran, boosting investor sentiment in tech stocks. Following last week's announcement that the Nasdaq would swiftly add Elon Musk's satellite company Evolution to the Nasdaq 100 index, SpaceX shares climbed 3.64%.

Major tech stocks such as Alphabet (2.81%), Meta (2.85%), Microsoft (1.42%), IBM (0.09%), AMD (1.47%), and Applied Digital (2.07%) are all showing gains. Other top-cap stocks, including Nvidia (0.73%), Apple (0.91%), Amazon (0.61%), TSMC (1.31%), and Broadcom (2.44%), are also rising.

In the case of the Middle East conflict, both the United States and Iran appear unwilling to escalate the situation. After negotiations became precarious due to military clashes over the weekend, both sides agreed on the previous day to halt hostilities and allow merchant vessels free passage through the Strait of Hormuz.

A U.S. government official said in an interview with CNBC on Sunday, "Technical discussions will continue across all areas of the memorandum of understanding," adding, "Both sides will temporarily suspend negotiations and allow the free movement of ships."

As of this hour, international oil prices are rising. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude for August delivery was up 1.31% from the previous session at $70.10 per barrel. On the ICE Futures Exchange, Brent crude for August delivery was trading at $72.71 per barrel, up 1.04% from the previous session.

CNBC reported that the upward trend in oil prices at the start of this week reflects market efforts to gauge whether the cessation of hostilities between the U.S. and Iran will hold and whether concerns over energy supply disruptions will ease.

Adam Crisafulli of Vital Knowledge commented, "Neither side (especially the United States) appears to want a full resumption of hostilities. While the possibility of an unexpected or unplanned escalation exists, the overall process is more likely to move toward continued easing of tensions."

This content was produced with the assistance of AI translation services.