New York stocks started mixed on the 30th (local time) as markets watched corporations' earnings reports and the situation in the Middle East.
As of 10:35 a.m. on the 30th (local time), the Dow Jones Industrial Average, the blue-chip benchmark on the New York Stock Exchange (NYSE), was up 610.03 points, or 1.25%, at 49,471.084. The Standard & Poor's (S&P) 500 rose 5.34 points, or 0.07%, to 7,141.29, while the Nasdaq composite fell 135.49 points, or 0.55%, to 24,537.75.
The generally solid corporations' earnings boosted investor sentiment.
Tech shares, however, weakened after big tech corporations reported results after the previous session's close. Results were largely positive, but concerns arose over capital expenditure.
Alphabet, Google's parent company, reported first-quarter revenue of $109.9 billion, up 22% from a year earlier. That topped the market estimate of $107.2 billion. It was also the highest quarterly growth rate since 2022.
Tensions in the Middle East involving the United States and Iran are capping stock gains. According to U.S. online outlet Axios the previous day, U.S. President Donald Trump said, "We will maintain a maritime blockade on Iran until it agrees to a deal that resolves U.S. concerns over its nuclear program."
Citing multiple sources, it also reported that U.S. Central Command is preparing powerful airstrikes against Iran in the short term.
Iran's supreme leader Mojtaba Khamenei also issued a statement that day. Mojtaba posted a statement on X (formerly Twitter) marking "Persian Gulf Day," saying, "We will eliminate the hostile enemy's exploitation in the Strait of Hormuz," and, "New management and legal norms for the Strait of Hormuz will provide economic benefits to all Gulf countries."