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