US Stock Market Today: Dow, S&P 500 and Nasdaq Rise as Iran Ceasefire Hopes Clash With Inflation Fears
Stocks in the U.S. moved up on Monday, with the Dow adding 83 points, the S&P 500 rising 0.25%, and the Nasdaq ahead 0.40% as of 11:50 a.m. ET. Fresh reports of Iran ceasefire talks seemed to keep momentum going after last week’s sharpest rally in four months. Bank stocks and chip plays set the tone—JPMorgan Chase and Visa buoyed financials, while Seagate surged on a Morgan Stanley upgrade to its top picks. “March was a tough month for stocks and investors really just want to find a reason to be optimistic,” said Melissa Brown, managing director of investment decision research at SimCorp. The stakes are rising: in the next few days, investors will get a clearer look at whether the oil shock out of the Middle East is morphing into a wider U.S. inflation threat. The consumer price index—set for release Friday—is forecast to jump 0.9% month-on-month, according to a Reuters poll. Early reads from Delta Air Lines and Constellation Brands will also provide clues on just how much higher fuel bills and war-driven turmoil are squeezing U.S. companies. “The market already has inflation on the brain,” said Patrick Ryan, chief investment strategist at Madison Investments.
