Dow Jumps Over 600 Points Following US-Iran Peace Deal

U.S. stocks traded higher this morning, with the Dow Jones index gaining over 600 points on Monday following an announcement of a peace agreement with Iran by President Donald Trump.

Following the market opening Monday, the Dow traded up 1.23% to 51,830.81 while the NASDAQ rose 2.50% to 26,536.64. The S&P 500 also rose, gaining, 1.60% to 7,550.46.

Leading and Lagging Sectors

Information technology shares jumped by 2.8% on Monday.

In trading on Monday, energy stocks fell by 4.2%.

Top Headline

President Donald Trump announced a peace agreement with Iran by President Donald Trump, which led to a decline in crude oil futures.

He said that the deal was "now complete," adding, "I hereby fully authorize the toll-free opening of the Strait of Hormuz, and, simultaneously herewith, authorize the immediate removal of the United States Naval blockade."

Equities Trading UP
           

• Cuprina Holdings (Cayman) Ltd (NASDAQ:CUPR) shares shot up 235% to $13.30 after the company received the FDA approval for its MEDIFLY lucilia cuprina maggot debridement product.
• Shares of Freecast Inc (NASDAQ:CAST) got a boost, surging 171% to $4.20 after jumping 141% on Friday. after jumping 141% on Friday. FreeCast said it is expanding its DIRECTV relationship across residential and Platform-as-a-Service (PaaS) ecosystems, positioning DIRECTV streaming (which no longer requires a home-mounted satellite dish) as a core integrated subscription offering within its consumer, residential and enterprise partner network.
• Regentis Biomaterials Ltd (NYSE:RGNT) shares were also up, gaining 153% to $3.79.

Equities Trading DOWN

• Elicio Therapeutics Inc (NASDAQ:ELTX) shares dropped 72% to $4.13 after the company reported results from randomized Phase 2 AMPLIFY-7P study evaluating ELI-002 7P in patients with adjuvant mKRAS-driven pancreatic ductal adenocarcinoma.
• Shares of Functional Brands Inc (NASDAQ:MEHA) were down 44% to $0.023.
• Neumora Therapeutics Inc (NASDAQ:NMRA) was down, falling 40% to $1.08 as the company said Navacaprant did not achieve primary endpoint in KOASTAL-2 Or -3.

Commodities

In commodity news, oil traded down 5.4% to $80.30 while gold traded up 3.3% at $4,381.30.

Silver traded up 4.6% to $71.095 on Monday, while copper rose 0.9% to $6.5010.

Euro zone

European shares were mostly higher today. The eurozone's STOXX 600 gained 0.4%, while Spain's IBEX 35 Index rose 1.4%. London's FTSE 100 fell 0.3%, Germany's DAX gained 1.3%, while France's CAC 40 rose 0.8%.

Asia Pacific Markets

Asian markets closed higher on Monday, with Japan's Nikkei 225 gaining 4.99%, Hong Kong's Hang Seng Index rising 0.50%, China's Shanghai Composite rising 1.61% and India's BSE Sensex climbing 0.97%.

Economics

• U.S. industrial production rose by 0.1% in May, down from market estimates of a 0.3% rise, compared to a revised 0.9% gain in April.
• The New York Fed's Empire State Manufacturing Index declined to 5.7 in June from 19.6 in the prior month and versus market estimates of 14.

Photo via Shutterstock