403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
UK Stocks End Monday in Green
(MENAFN) Wall Street closed in positive territory on Monday, propelled by a surge in heavyweight technology stocks that allowed investors to brush aside climbing oil prices and fresh diplomatic turbulence over the Iran war.
The S&P 500 climbed 0.19%, adding 13.91 points to settle at a record 7,412.84 — crossing above the 7,400 threshold for the first time in the index's history. The Dow Jones Industrial Average mirrored that advance, rising 0.19%, or 95.31 points, to 49,704.47. The Nasdaq Composite edged 0.1% higher, gaining 27.05 points to close at a record 26,274.12.
Not all signals were calm. The Volatility Index (VIX) — widely known as the market's "fear index" — spiked 6.92% to 18.38, reflecting lingering unease beneath the surface of the rally.
The geopolitical backdrop remained charged. US President Donald Trump rejected Iran's most recent peace proposal on Sunday via a Truth Social post, branding it "TOTALLY UNACCEPTABLE!" On Monday, he compounded concerns by telling reporters the month-old ceasefire between the US and Iran was "unbelievably weak" — a step down from his earlier characterisation that it was "on life support."
In a bid to cushion consumers from surging pump prices, Trump also announced plans to suspend the federal gasoline tax "for a period of time," pledging to phase it back in once fuel costs recede.
Energy markets reacted sharply to the renewed tensions. US benchmark West Texas Intermediate crude surged 2% to trade above $98 per barrel, while international benchmark Brent crude gained an equal 2% to breach $104.
Technology countered the headwinds. Micron Technology soared 7%, extending a powerful memory chip rally, while Nvidia added 2% — together anchoring the broader market's advance.
The gains build on a strong recent run. Both the S&P 500 and Nasdaq posted more than 2% and 4% gains respectively last week, logging their sixth consecutive weekly advances. The Dow recorded its fifth weekly gain in six weeks. On the economic data front, existing home sales in the US edged up 0.2% to 4.02 million in April.
European Markets
European equities delivered a mixed but broadly positive session. The pan-European Stoxx Europe 600 inched up 0.11% to close at 612.83.
Among national benchmarks, Italy's FTSE MIB 30 led gains with a rise of 0.76% to 49,664.95, while the UK's FTSE 100 added 0.36% to finish at 10,269.43. Germany's DAX 40 nudged 0.07% higher to 24,355.41.
Bucking the trend, France's CAC 40 retreated 0.69% to 8,056.38, and Spain's IBEX 35 slipped 0.21% to 17,852.50.
The S&P 500 climbed 0.19%, adding 13.91 points to settle at a record 7,412.84 — crossing above the 7,400 threshold for the first time in the index's history. The Dow Jones Industrial Average mirrored that advance, rising 0.19%, or 95.31 points, to 49,704.47. The Nasdaq Composite edged 0.1% higher, gaining 27.05 points to close at a record 26,274.12.
Not all signals were calm. The Volatility Index (VIX) — widely known as the market's "fear index" — spiked 6.92% to 18.38, reflecting lingering unease beneath the surface of the rally.
The geopolitical backdrop remained charged. US President Donald Trump rejected Iran's most recent peace proposal on Sunday via a Truth Social post, branding it "TOTALLY UNACCEPTABLE!" On Monday, he compounded concerns by telling reporters the month-old ceasefire between the US and Iran was "unbelievably weak" — a step down from his earlier characterisation that it was "on life support."
In a bid to cushion consumers from surging pump prices, Trump also announced plans to suspend the federal gasoline tax "for a period of time," pledging to phase it back in once fuel costs recede.
Energy markets reacted sharply to the renewed tensions. US benchmark West Texas Intermediate crude surged 2% to trade above $98 per barrel, while international benchmark Brent crude gained an equal 2% to breach $104.
Technology countered the headwinds. Micron Technology soared 7%, extending a powerful memory chip rally, while Nvidia added 2% — together anchoring the broader market's advance.
The gains build on a strong recent run. Both the S&P 500 and Nasdaq posted more than 2% and 4% gains respectively last week, logging their sixth consecutive weekly advances. The Dow recorded its fifth weekly gain in six weeks. On the economic data front, existing home sales in the US edged up 0.2% to 4.02 million in April.
European Markets
European equities delivered a mixed but broadly positive session. The pan-European Stoxx Europe 600 inched up 0.11% to close at 612.83.
Among national benchmarks, Italy's FTSE MIB 30 led gains with a rise of 0.76% to 49,664.95, while the UK's FTSE 100 added 0.36% to finish at 10,269.43. Germany's DAX 40 nudged 0.07% higher to 24,355.41.
Bucking the trend, France's CAC 40 retreated 0.69% to 8,056.38, and Spain's IBEX 35 slipped 0.21% to 17,852.50.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment