LIVE MARKETS-US stocks rise as investors choose optimism regarding Iran

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US STOCKS RISE AS INVESTORS CHOOSE OPTIMISM REGARDING IRAN

Wall Street's three major indexes are rising on Wednesday with the Nasdaq .IXIC touching an intraday record as investors opted for hope after U.S. President Donald Trump extended a ceasefire with Iran even though there was no clear schedule for peace talks or signs of reopening of the Strait of Hormuz.

However, Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway, after Trump called off attacks indefinitely. Earlier, a British maritime security agency reported that three ships had come under fire.

With U.S. crude oil futures up about 2% and Brent trading above $100 a barrel, energy .SPNY is among the biggest gainers of the S&P 500's .SPX 11 major industry sector indexes, up 1%. However, technology .SPLRCT is in the lead with a 1.4% gain. Also advancing around 1% are materials .SPLRCM and communication services .SPLRCL.

Among the laggards are financials .SPSY, which are just edging up, and real estate .SPLRCR, which is off slightly.

While the biggest boosts to the S&P 500 include a bunch of the usual Mag 7 MAGS.K suspects, another top contributor is GE Vernova GEV.N, which is up 12% after the power equipment company raised its annual forecasts for revenue and adjusted core profit margin, betting on surging demand from data centers and grid infrastructure.

Here is your opening snapshot:

(Sinéad Carew)

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