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US Equity Markets Higher After Trump Says Israel, Hezbollah to Cease Fighting

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US equity indexes were higher on Monday after President Donald Trump said Israel and Hezbollah will cease fighting in Lebanon.

* Trump has spoken separately with Israeli Prime Minister Benjamin Netanyahu and Hezbollah representatives, multiple media reports cited the US president as saying. The growing conflict between Israel and Hezbollah in Lebanon will stop, Trump was cited as saying.

* Trump, who last week received a framework for a peace agreement with Iran, sent back changes to the proposed deal, officials said, insisting on tougher language about Tehran's nuclear and Strait of Hormuz reopening commitments, CNN reported.

* The Institute for Supply Management's US manufacturing index rose to 54.0 in May from 52.7 in April, compared with expectations for 53.0 in a survey compiled by Bloomberg.

* The S&P Global US manufacturing index for May was revised down to 55.1 from the flash 55.3, compared with expectations of no revision in a Bloomberg-compiled survey.

* July West Texas Intermediate crude oil rose $5.22 to settle at $92.58 per barrel, while August Brent crude, the global benchmark, was last seen up $4.21 at $95.33.

* MGM Resorts International (MGM) shares were up roughly 16%, the highest on the S&P 500, after the company confirmed that it received an offer from People Inc. (IAC) to acquire all MGM shares that it does not already own for $48.30 per share in cash.

* Constellation Energy (CEG) shares were down about 7.6%, among the lowest on S&P 500 and Nasdaq, after the company said it has priced an underwritten secondary offering of 11 million shares at $281 apiece.

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US Equity Indexes Rise After Trump Says Israel, Hezbollah to Stop Fighting

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US equity futures were higher pre-bell Monday despite the shaky Middle East ceasefire being tested once again by a new exchange of attacks, even as President Donald Trump stated that Iran wants to come to an agreement.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.2% higher.The US said that it struck radar and drone sites in Iran after an American drone was shot down over the weekend. Iran then said it launched its own strike, while Kuwait reported that it intercepted incoming drone and missile fire."Iran really wants to make a deal, and it will be a good one for the U.S.A. and those that are with us," Trump said in a post on Truth Social. He has not yet decided on whether to move forward on an agreement to extend the ceasefire and reopen the Strait of Hormuz.Among the companies reporting financial results this week are Palo Alto Networks (PANW), Broadcom (AVGO), and CrowdStrike (CRWD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $93.71 per barrel and US West Texas Intermediate crude 3.5% higher at $90.39 per barrel.The final S&P Global manufacturing purchasing managers index for May, due at 9:45 am ET, is seen coming in at 55.3, unchanged from its prior value, according to estimates compiled by Bloomberg.The May Institute for Supply Management's services index, due at 10 am ET, is projected at 53.0, versus 52.7 previously. The April construction spending report is also due at 10 am ET.

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