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US Equity Markets End Higher Amid Pause in US-Iran Hostilities

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US equity indexes were higher on Monday after the US and Iran paused hostilities, followed by gains in technology, communication services, and consumer discretionary stocks.

* 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.

* The Dallas Fed's monthly manufacturing index fell to 0.0 in June from 0.4 in May, missing expectations for an increase to 1.0.

* August West Texas Intermediate crude oil rose $1.24 to settle at $70.47 per barrel, while August Brent crude, the global benchmark, was last seen up $0.87 at $72.86.

* Astera Labs (ALAB) shares were up roughly 16%, the top gainer on the Nasdaq, after UBS adjusted the company's price target to $400 from $205 while maintaining its neutral stock rating.

* Copart (CPRT) shares were down nearly 8%, the worst performer on the Nasdaq and among the worst on the S&P 500, after the company said that Jeff Liaw will step down as chief executive officer and director, effective July 31.

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US Equity Markets End Lower Amid Technology Stocks Sell-Off

US equity indexes were lower on Friday amid a sell-off in technology stocks and despite a decline in crude oil prices following the Israel-Lebanon framework agreement.* Among stocks with a market capitalization of over $200 billion, 16 out of the 20 worst-performing stocks were technology firms.* The University of Michigan consumer sentiment index was revised up to 49.5 for June from 48.9 in the preliminary estimate, below expectations of 50.0 in a Bloomberg-compiled poll. The print was also above the final 44.8 in May.* August West Texas Intermediate crude oil fell $2.34 to settle at $69.58 per barrel, while August Brent crude, the global benchmark, was last seen down $3.05 at $72.21.* Moderna (MRNA) shares rose nearly 12%, the top gainer on the S&P 500, after the company said it plans to launch clinical development of in vivo CAR-T candidate mRNA-6007 in 2027. Multiple analysts also raised their price targets for the company.* Onsemi (ON) shares were down roughly 24%, the worst performer on the S&P 500, after the chipmaker agreed to acquire semiconductor company Synaptics (SYNA) in a deal valued at about $7 billion.

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

(Updates with index/price moves data, and political news from the first paragraph.)US stocks traded lower as technology raced to the bottom of sector charts, while crude oil traded at levels last seen before the Iran war after a "framework agreement" was signed between Israel and Lebanon.The Nasdaq Composite fell 0.4% to 25,263.4 ahead of Friday's close. The Dow Jones Industrial Average edged down 0.1% to 51,847.5, while the S&P 500 was down 0.2% to 7,347.4.Technology and industrials led the four declining sectors intraday. Health care, consumer discretionary, and consumer staples were among the top gainers.In a category of stocks with a market capitalization of over $200 billion, 16 out of the 20 worst-performing stocks were technology firms. Western Digital (WDC), Seagate Technology (STX), and Sandisk (SNDK) were the steepest decliners, down by at least 8.2% each. In the sliding technology shares, more than half were semiconductor companies.In geopolitical news, negotiators from Lebanon and Israel signed a "framework agreement" on the handover of areas in Israeli-occupied southern Lebanon after US-mediated talks in Washington, DC., according to a Friday report from Al Jazeera, a Middle East news broadcaster.This comes as Arsenio Dominguez, the secretary-general of the UN's International Maritime Organization, said 115 vessels and 2,500 seafarers have been evacuated from the Strait of Hormuz since Tuesday, Al Jazeera reported.The front-month global benchmark North Sea Brent slumped 4.5% to $71.88 per barrel, and the US West Texas Intermediate retreated 3.8% to $69.19 per barrel, extending their declines to the lowest since the beginning of the Iran war.

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