The three major U.S. stock indexes rose early on the 29th local time. Hopes that the U.S.-Iran military clash is less likely to escalate revived some risk appetite, and buying also flowed into recently weak tech stocks.
As of 10:20 a.m., the Dow Jones Industrial Average was up 189.55 points, or 0.37%, at 52,065.66 from the previous session. As of 10:08 a.m., the Standard & Poor's (S&P) 500 was up 21.83 points, or 0.30%, at 7,375.85. As of 10:04 a.m., the Nasdaq composite was up 219.81 points, or 0.87%, at 25,517.43.
The early gains narrowed somewhat from just after the open. The Dow rose as high as 52,311.63 intraday, and the S&P 500 climbed to 7,427.80. The Nasdaq composite also rose to 25,697.22 intraday before giving back part of its gains.
Expectations for easing tensions in the Middle East are cited as the backdrop for the rebound. U.S. President Donald Trump said on the social media platform Truth Social that Iran requested talks and claimed talks will be held in Doha, Qatar, on the 30th. The White House also said special envoy Steve Witkoff and Trump's eldest son-in-law Jared Kushner are scheduled to travel to Doha this week for high-level talks.
Iran, however, drew a line, saying there is no working-level meeting with the United States scheduled for this week. As a result, whether talks will actually be held and how agendas are coordinated remain variables. The market is putting more weight on signs that both sides are trying to avoid escalation.
Among individual stocks, Comcast jumped. Comcast announced a plan to separate its media businesses, including NBCUniversal and Sky, into a separately listed company. As of 10:08 a.m., Comcast shares were up $2.08, or 8.98%, at $25.25 from the previous session.
Space company Rocket Lab also gained. Rocket Lab said it will acquire satellite communications firm Iridium Communications in a cash-and-stock transaction valued at about $8.0 billion. As of 10:07 a.m., Rocket Lab shares were up $7.22, or 8.54%, at $91.76.
Alphabet, Google's parent, also rose. Alphabet was added to the Dow Jones Industrial Average from this day, replacing Verizon Communications Inc. As of 10:07 a.m., Alphabet shares were up $10.93, or 3.24%, at $348.32.
By contrast, the volatility index (VIX) edged higher. As of 10:05 a.m., the VIX was up 0.23 point, or 1.25%, at 18.64 from the previous session. The U.S. 10-year Government Bonds yield rose 0.002 percentage point to 4.371%.
European stocks moved around the flat line. According to Reuters, the pan-European Stoxx 600 was flat at 636.43 as of 8 a.m. GMT, while tech rose 1.4%. Whether the cease-fire in the Middle East holds and the possibility of U.S.-Iran talks remain short-term variables for global stocks.