The US markets ended mostly in green on Monday, ahead of the Federal Reserve’s policy announcement due on Wednesday, with expectations that interest rates will remain unchanged. Traders took a note of reports indicated that Iran has proposed reopening the Strait of Hormuz and de-escalating tensions. However, market participants stayed cautious amid ongoing uncertainty in the Middle East following stalled U.S.-Iran discussions over the weekend. On the sectoral front, reflecting the subdued performance of the broader market, most major sectors recorded only modest movements during the session. Airline stocks were a notable exception, moving sharply lower, with the NYSE Arca Airline Index declining by 2.1%. Significant weakness was also seen in gold-related stocks, as the NYSE Arca Gold Bugs Index fell by 1.8%.
Nasdaq increased 50.50 points or 0.2 percent to 24,887.1 and S&P 500 gained 8.83 points or 0.12 percent to 7,173.91, while Dow Jones Industrial Average decreased 62.92 points or 0.13 percent to 49,167.79.
