Nasdaq jumps 2.3% to first record close since June as oil prices fall

  • Nasdaq led Wall Street higher, reaching its first record close since June.
  • Nasdaq gained 2.3%, while the S&P 500 rose 1.5% and Dow climbed 0.7%.
  • Investors monitored Trump-Xi talks, Iran developments and Tuesday's U.S. economic calendar.

U.S. stock futures were broadly steady early Tuesday after a technology-led rally lifted the Nasdaq Composite 2.3% on Monday to its first record close since June. The S&P 500 gained 1.5%, its strongest one-day advance since Aug. 4, while the Dow Jones Industrial Average rose 366 points, or 0.7%. Early Tuesday, S&P 500 futures were barely above breakeven, Nasdaq-100 futures rose 0.1% and Dow futures added 112 points, or 0.2%. Lower oil prices supported sentiment, with Brent crude down about 2% to roughly $98 a barrel and U.S. crude falling 2.6% to $93.28. Reports that Iran offered to reopen the Strait of Hormuz in exchange for the lifting of a U.S. blockade, and that Saudi Arabia restored its East-West pipeline, weighed on crude prices; the Kyodo report relied on one source and had not been independently verified, CNBC said. The 10-year Treasury yield was around 4.93% after retreating. Investors also focused on President Donald Trump's planned Washington summit with Chinese leader Xi Jinping, expected to address artificial intelligence, tariffs, rare earth metals and the conflict with Iran. Trump was also expected to speak at the United Nations General Assembly, while markets watched for a possible meeting with Iranian President Masoud Pezeshkian. Tuesday's calendar included the Richmond Fed manufacturing survey and remarks from New York Fed President John Williams and Richmond Fed President Tom Barkin.

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Nasdaq jumps 2.3% to first record close since June as oil prices fall - CoinPost Terminal