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Live Markets: Wall Street rises on Middle East optimism; Nasdaq eyes 10th straight gain

Main US indexes green; Nasdaq out front, up >1%

Comm Svcs leads S&P 500 sector gainers; Energy weakest group

Euro STOXX 600 index up ~0.8%

Dollar falls; US crude down ~7%; gold gains >1%; bitcoin up >3%

US 10-Year Treasury yield dips to ~4.28%

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    WALL STREET RISES ON MIDDLE EAST OPTIMISM; NASDAQ EYES 10TH STRAIGHT GAIN

Wall Street's main indexes are higher in early trade on Tuesday after reports of fresh efforts to ease the Middle East conflict boosted sentiment, with traders also assessing corporate earnings and the March producer price data.

Delegations from the U.S. and Iran could resume talks in Pakistan to end the war this week, sources told Reuters. This comes after U.S. President Donald Trump said Iran had been in touch and wanted to make a deal, but he would not agree to any outcome that allows Tehran to have a nuclear weapon.

A busy slate of quarterly earnings on Tuesday is also expected to guide the market. That slate includes results from JPMorgan JPM.N, Wells Fargo WFC.N and Citigroup C.N. The S&P 500 Banks Index .SPXBK is down nearly 1%.

Data showed that U.S. producer prices increased less than expected in March as the cost of services was unchanged.

A majority of S&P 500 .SPX sectors are higher with Communication Services .SPLRCL and Consumer Discretionary .SPLRCD, both up more than 1.5%, posting the biggest rises. Energy .SPNY, down more than 2%, is taking the biggest hit.

Under the surface, biotech .NBI, software & services .SPLRCIS and gold/silver miners .XAU are among the outperformers.

The Nasdaq Composite .IXIC and the PHLX Semiconductor Index .SOX are both on track to rise for a 10th day in a row. The SOX is on pace to score a record closing high.

Meanwhile, the S&P 500, which is now around 6,930, is down less than 0.7% from its 6,978.60 January 27 record closing high.

Here is a snapshot of where markets stood around 10:06 a.m. EDT:

(Terence Gabriel)

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EARLIER ON LIVE MARKETS:

    PREDICTION MARKETS GO MAINSTREAM AS BERNSTEIN EYES $1 TRILLION BOOM CLICK HERE

VALUE TRADE COULD BE BACK IN BUSINESS IN EUROPE - BARCLAYS CLICK HERE

NASDAQ'S HOT STREAK AND A COLD SIGNAL: DEATH CROSS IN FOCUS CLICK HERE

U.S. STOCKS: THE LEAST BAD OPTION? CLICK HERE

EU SOFTWARE COMPANIES FACE MAJOR EARNINGS TEST CLICK HERE

HALF-TIME IN EUROPE: STOCKS BUOYANT CLICK HERE

MARCH SET TO POST BIGGEST ENERGY INFLATION IN 25 YEARS, UBS SAYS CLICK HERE

A LESS-SUPPORTIVE LIQUIDITY ENVIRONMENT CLICK HERE

EUROPEAN STOCKS HIGHER, COMPANIES FLAG CONFLICT HIT CLICK HERE

EUROPE BEFORE THE BELL: OPTIMISTIC MARKETS CLICK HERE

FINGERS CROSSED FOR A RESOLUTION CLICK HERE

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(Terence Gabriel is a Reuters market analyst. The views expressed are his own)

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