The three main U.S. stock indexes opened higher on dip buying.
As of 9:51 a.m. on the 30th, the Dow Jones Industrial Average on the New York Stock Exchange was up 191.03 points, or 0.42%, at 45,357.67. The Standard & Poor's (S&P) 500 was up 17.76 points, or 0.28%, at 6,386.61, and the Nasdaq composite was up 30.20 points, or 0.14%, at 20,978.56.
Stocks started higher on bargain hunting, but gains were limited as fears of an escalation involving the United States and Iran persisted.
On the day, President Donald Trump warned that if Iran does not open the Strait of Hormuz, all energy infrastructure could be destroyed. Trump said he is discussing an end to military operations with Iran's new regime and that there has been progress, but noted that if talks are not concluded quickly or the strait is not opened immediately, power plants, oil fields, and Kharg Island as well as desalination facilities could be struck.
Over the weekend, Yemen's pro-Iran Houthi militia fired missiles toward Israel, joining the Middle East war. With the Strait of Hormuz still blocked, worries are growing that Houthi involvement could also threaten navigation in the Red Sea.
Sam Stovall, chief investment strategist at CFRA, said, "The S&P 500 has still fallen less than 10% even after the war," and noted, "It appears investors have priced in the impact of the closure of the Strait of Hormuz less than expected." He added, "Today's rise has a strong technical rebound character," explaining, "because many sectors and industries are in oversold territory."
By sector, energy, financials, and utilities were strong, while technology and industrials were weak.
By stock, aluminum corporations Alcoa surged more than 12%, driven by higher prices after Iran attacked aluminum production facilities in the Middle East. In contrast, food distributor Sysco fell 12.44% on news it agreed to acquire Jetro Restaurant Depot for about $29.1 billion. Online travel platform Expedia rose 2.53% on an upgrade from Jefferies.
Major European stock markets also rose across the board. The Euro Stoxx 50 gained 0.11% to 5,512.02, while the U.K.'s FTSE 100 and Germany's DAX rose 1.08% and 0.44%, respectively. France's CAC 40 also added 0.43%.
International oil prices also rose. At the same time, West Texas Intermediate (WTI) for May 2026 delivery was up 2.89% from the previous session at $102.52 per barrel.