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Update: Strong Gains in Communication Services, Consumer Discretionary Lift US Equity Indexes; Crude Oil Heads Higher

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(Updates with index/price moves and geopolitical news from the first paragraph.)

US equity indexes rose amid standout gains in communication services and consumer discretionary, and as crude oil advanced amid mixed messaging regarding a meeting to be held on Tuesday between Washington and Tehran in Doha, Qatar.

The Nasdaq Composite jumped 2% to 25,791.7, the S&P 500 rose 1.1% to 7,436.2, and the Dow Jones Industrial Average rose 0.6% to 52,173.8 ahead of Monday's close.

Technology was among the top three gainers intraday. Tesla (TSLA), Alphabet (GOOG, GOOGL), and Amazon.com (AMZN) were among the top 20 gainers in a category with a market capitalization of over $200 billion. The group's leader remains Corning (GLW), trading up 16% in the final leg of trading.

In geopolitical news, the United States and Iran on Monday separately announced they will send delegations to Qatar this week, though Tehran insisted it has not agreed to meet with the US "at any level" after attacks across the Persian Gulf over the weekend challenged negotiations to end the war, the Associated Press reported.

Iran's foreign minister, Abbas Araghchi, reiterated that "Tehran retains exclusive authority over traffic through the Strait of Hormuz under the preliminary peace agreement, leaving the risk of renewed supply disruptions elevated," Saxo Bank said in a note. Marine traffic through the strait has modestly picked up in the last 36 hours, CNN cited ship tracking data.

Fighting between Hezbollah and Israel continued in Lebanon over the weekend despite a recent agreement between the countries, CNN reported Monday. Iran has demanded a full withdrawal of Israeli forces from Lebanon as part of a final deal with the US.

The front-month global benchmark North Sea Brent rose 1% to $72.73 per barrel, and the US West Texas Intermediate climbed 1.7% to $70.41 per barrel.

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Update: US Equity Indexes Lower in Final Leg of Trading as Technology Slides With Crude Oil

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