Live Markets: Wall Street indexes are mixed with Middle East in focus
LIVE MARKETS-Wall Street indexes are mixed with Middle East in focus Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
WALL STREET INDEXES ARE MIXED WITH MIDDLE EAST IN FOCUS
The main U.S. equity indexes were going nowhere fast on Monday with all three slightly red as oil prices rise with the Middle East in focus at the start of a busy week with a key inflation reading for July due out on Wednesday and more earnings reports.
Oil prices are up more than 2% after Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions, including compensation and an end to sanctions and military threats, before the strategic waterway is reopened.
Earnings due out in coming days include tech companies Cisco Systems CSCO.O and Applied Materials AMAT.O and restaurant groups Jack in the Box JACK.O and Red Robin Gourmet Burgers RRGB.O.
In the S&P 500's 11 major industry groups, energy .SPNY is the biggest gainer, up nearly 3% while the biggest loser is real estate .SPLRCR, down more than 1%. The benchmark index's biggest drags include shares of high-profile technology companies such as Apple Inc AAPL.O , Nvidia NVDA.O and Intel Corp INTC.O.
Shares in Intel are down 3% after it said it was planning to raise $15 billion through a share sale, as it looks to fund the costly build-out of its chip contract manufacturing business by cashing in on a recent surge in its share price fueled by its turnaround efforts. Intel is still up 166% year-to-date.
Here is your morning snapshot:
(Sinéad Carew)
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EARLIER ON LIVE MARKETS:
FRESH RECORDS IN HAND, THE S&P 500 HEADS INTO A BUSY WEEK CLICK HERE
DOLLAR HEDGE RATIOS ARE FALLING AGAIN, WATCH OUT? CLICK HERE
COULD THE DEBASEMENT TRADE MAKE A COMEBACK? CLICK HERE
JPM STICKS WITH BULLISH CALL AS RALLY BROADENS CLICK HERE
TECH SUPPORTS STOXX AS CHIPS EXTEND RECOVERY CLICK HERE
BEFORE THE BELL: EUROPE DIPS FROM HIGHS AS EARNINGS SEASON NEARS FINISH LINE CLICK HERE
SUDDENLY THE STRAIT OF HORMUZ IS 'IRRELEVANT' TO THE U.S. CLICK HERE
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