Dow Rises 197 Points as U.S.-Iran Halt Hostilities Eases Market Nerves
Updated
Updated · CNBC · Jun 29
Dow Rises 197 Points as U.S.-Iran Halt Hostilities Eases Market Nerves
3 articles · Updated · CNBC · Jun 29
Summary
197 points lifted the Dow 0.4%, while the S&P 500 and Nasdaq each added 0.1% after a U.S.-Iran agreement to pause hostilities and keep the Strait of Hormuz open.
Micron sank nearly 8%, dragging AI-linked chip stocks lower and cooling an early rally that had briefly pushed the Nasdaq up more than 1%.
Brent crude rose 0.67% to $72.47 and WTI gained 1.2% to $70.06 as traders weighed whether the truce would hold after weekend U.S. strikes on Iranian targets.
Comcast jumped 8% after outlining a plan to split its media and tech businesses into two public companies, offering one of the session's strongest non-tech gains.
The move follows a bruising week for tech-heavy indexes, with the S&P 500 down nearly 2% and the Nasdaq off 4.6%, while the less tech-exposed Dow had already outperformed.