Live Markets: Wall Street rises on US-Iran deal hopes; Tech leaps, Staples lag

Costco Wholesale

29/05/2026 15:09

Main US indexes positive; Nasdaq out front, up ~0.6%
May Chicago PMI 62.7 vs 50.5 estimate
Euro STOXX 600 index up ~0.3%
Dollar ~flat; gold gains >1%; bitcoin slips; US crude down ~1%
US 10-year Treasury yield edges down to ~4.45%
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    WALL STREET RISES ON US-IRAN DEAL HOPES; TECH LEAPS, STAPLES LAG
  
The main U.S. indexes are extending gains on Friday, after closing at record highs the previous session, with markets awaiting details on reports that the U.S. and Iran had reached a deal.
Sources told Reuters that Washington and Tehran had agreed to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz, but President Donald Trump was yet to approve it.
Most S&P 500 .SPX sectors are lower with staples .SPLRCS, off nearly 2%, taking the biggest hit. Drops in Costco COST.O and Walmart WMT.O are weighing on the group.
Tech .SPLRCT, up more than 2%, is the leading gainer. Financials .SPSY are the only other sector in positive territory.
Under the surface, software & services .SPLRCIS, up nearly 4%, and chips .SOX, up nearly 2%, are posting strong gains.
Here is a snapshot of where markets stood shortly after 10 a.m. EDT:
(Terence Gabriel)
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EARLIER ON LIVE MARKETS:
S&P 500 HITS FRESH HIGHS AS MOMENTUM BUILDS, BREADTH LAGS CLICK HERE
ASIA'S "EXPORT ENGINE" IS POWERING ON...OR IS IT? CLICK HERE 
HOW TO BE EXPOSED TO A URANIUM PRICE UPCYCLE CLICK HERE
EUROPE'S NEXT POLITICAL PROBLEM CHILD? CLICK HERE
WHY CHINA’S BONDS ARE AMONG THE BEST WAR HEDGES CLICK HERE
STEADILY RISING CLICK HERE
BEFORE THE BELL: CAUTION PREVAILS CLICK HERE
ANOTHER DAY, ANOTHER IRAN DEAL MOMENT CLICK HERE
     

EarlyTrade05292026 https://fingfx.thomsonreuters.com/gfx/buzz/egpbedzdqvq/EarlyTrade05292026.png
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)