The New York stock market opened higher on strong earnings from big tech and news that Iran delivered a cease-fire proposal to Pakistan, the mediator.
On the New York Stock Exchange (NYSE), as of 10:21 a.m. on the 1st Eastern time, the Dow Jones Industrial Average was up 314.42 points, or 0.63%, at 49,966.56. The Standard & Poor's (S&P) 500 rose 60.65, or 0.84%, to 7,269.66, and the Nasdaq composite was up 294.82, or 1.18%, at 25,187.13.
The Wall Street Journal (WSJ) said, "Apple boosted the rally by posting better-than-expected results," and noted, "U.S. stock indexes are looking past concerns about the Iran war and focusing on solid results from corporations and a rebounding tech sector." Apple's first-quarter revenue was $111.18 billion (about 164 trillion won), up 17% from a year earlier. It was a record high for the same quarter.
The possibility of an end to the Iran–United States war also opened up. Iran's state-run IRNA news agency reported that Iran delivered a new proposal for a cease-fire with the United States to Pakistan, the mediator. Esmail Baghaei, Iran's Foreign Ministry Spokesperson, said that "the top priority in negotiating with the United States is ending the war and achieving lasting peace," IRNA reported.