LIVE MARKETS-Early US trade: Another rebound tease?

By Stephen Culp

NEW YORK, March 31 (Reuters) - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

EARLY US TRADE: ANOTHER REBOUND TEASE?

Wall Street opened higher on Tuesday, aiming to end a tumultuous quarter on an upbeat note after U.S. President Donald Trump mentioned to aides that he was willing to end the military campaign against Iran even if the crucial Strait of Hormuz remains closed, once again boosting investors' hope that the widening conflict in the Middle East could cool down sooner rather than later.

So, despite Iran setting a giant oil tanker ablaze off Dubai, and although Brent crude LCOc1 is on track for a record monthly gain, all three major U.S. stock indexes began the session with solid gains.

Even so, the S&P 500 .SPX remains headed for its steepest quarterly loss since 2022. The blue-chip Dow .DJI and the Russell 2000 .RUT have confirmed they entered into corrections since they hit their all-time closing highs.

Every member of the Magnificent Seven group of AI-related megacaps was green, and recently battered sectors such as airlines .SPCOMAIR, chips .SOX, housing .HGX and homebuilding .SPCOMHOME were among the outperformers as investors search for bargains among the ashes of the recent, weeks-long selloff.

On the economic front, home price growth cooled down more than expected, according to S&P Cotality Case-Shiller. Other indicators soon to be released include the Conference Board's March consumer confidence index and the Labor Department's February JOLTS report.

Here's where things stood as of 09:38 EDT:

(Stephen Culp)

EARLIER ON LIVE MARKETS:

30% DRAWDOWN IS NOT OUT OF THE QUESTION CLICK HERE

BARCLAYS GOES 30% ABOVE THE STREET ON ENERGY EARNINGS CLICK HERE

MIDDLE EAST TURMOIL POSES LIMITED THREAT TO EUROPEAN MEDTECH, RBC SAYS CLICK HERE

POSTPONED DOLLAR WEAKNESS CLICK HERE

A SHARPER US TREASURY SELLOFF IN TOKYO CLICK HERE

STOXX 600 HEADS FOR BIGGEST MONTHLY FALL SINCE JUNE 2022 CLICK HERE

EUROPE BEFORE THE BELL: FUTURES HIGHER ON IRAN DE-ESCALATION SIGNS CLICK HERE

SOME RESPITE FOR NERVY MARKETS AFTER BRUTAL MONTH CLICK HERE