CNBC- Nasdaq traded 0.2% higher to start the week, reflecting optimism amid peace hopes between the U.S. and Iran.
- Chipmakers also traded higher, contributing to the Nasdaq's gains.
- Lumentum Holdings surged more than 7% after being upgraded by Barclay's, leading the S&P 500.
- U.S. oil prices wavered, with crude futures slightly higher at around $83 per barrel.
The Nasdaq composite managed to cling to a 0.2% gain as investors reacted to potential diplomatic efforts between the U.S. and Iran, following a proposal for a 10-day ceasefire to revive peace talks.12
Chipmakers provided a significant boost, with Lumentum Holdings surging over 7% after Barclays upgraded the stock to overweight, setting a price target of 1,000.345
Meanwhile, U.S. crude oil prices fluctuated, trading around $83.85 per barrel, reflecting mixed market sentiments. The Dow Jones Industrial Average faced deeper losses as investors weighed President Trump's comments on Iran, while the S&P 500 dipped below the 7,500 level.
The geopolitical landscape remains tense, with the U.S. completing its ninth consecutive day of strikes on Iran, yet hopes for diplomacy lingered as both nations signaled a willingness to negotiate.
The 10-year Treasury yield rose to 4.6%, and Bitcoin advanced to around $65,200, indicating a complex interplay of market forces amid ongoing global tensions.
“Early Monday, a proposal for 10 days of no strikes between the U.S. and Iran surfaced, citing a senior Iranian official, as the U.S. completed its ninth consecutive day of strikes on Iran overnight. Among individual movers, Lumentum jumped over 7% after Barclays upgraded the fiber-optics stock to overweight with a $1,000 price target, while Hut 8 spiked nearly 15% on a 15-year, $9.8 billion data center lease in Texas.”
