US Stocks Mixed as Iran Ceasefire, Lower Oil Prices Boost Airlines

The US stock market closed mixed on July 27, as a ceasefire between the US and Iran and a sharp decline in crude oil prices boosted airline and auto stocks. However, reports that a Chinese state-backed enterprise has begun manufacturing immersion DUV lithography equipment triggered selling in semiconductor equipment stocks.

The Dow Jones Industrial Average rose 262.83 points, or 0.51%, to close at 52,210.08, extending its winning streak. In contrast, the tech-heavy Nasdaq Composite fell 43.74 points, or 0.18%, to 24,932.08.

Both nations ceased attacks on July 24 after 13 days of back-and-forth strikes. Iran also indicated it would 'suspend military responses as long as the US cessation of attacks continues.' This reduced the risk of a blockade of the Strait of Hormuz, a critical artery for global crude oil transportation.