US close: Stocks lower as Middle East tensions remain in focus

(Sharecast News) - Major indices closed lower on Tuesday following reports that the US ‌military had conducted strikes ​on Iran's ​Kharg Island. At the close, the Dow Jones Industrial Average was down 0.18% at 46,584.46, while the S&P 500 advanced 0.08% to 6,616.85 and the Nasdaq Composite saw out the session 0.10% firmer at 22,017.85.

The Dow closed 85.42 points lower on Tuesday, taking a bite out of gains recorded in the previous session.

According to Axios, which cited an unnamed senior US official, the US military struck Kharg Island early on Tuesday, something that was later confirmed by Iran's semi‑official Mehr News Agency. Separately, Iran's Revolutionary Guard issued a warning to neighbouring states, saying "restraint is over" and threatening to target US and partner infrastructure in the region, as well as disrupt regional oil and gas supplies for an extended period.

The strikes come despite Donald Trump's vow to extend his deadline to destroy Iran's power plants and bridges until 2000 ET unless it reopens the Strait of Hormuz. They also come following a previous Axios report that said the US and Iran were discussing terms to reach a potential 45-day ceasefire that could lead to a permanent end to the conflict.

Trump later threatened that "a whole civilization will die tonight, never to be brought back again. I don't want that to happen, but it probably will". The Wall Street Journal also reported that negotiators weren't optimistic that the two nations will be able to reach an agreement between before the deadline put in place by Trump.

Pakistani prime minister Shehbaz Sharif asked Trump to extend his deadline for two weeks and called on Iran to open the Strait of Hormuz for two weeks "as a goodwill gesture". White House press secretary Karoline Leavitt said Trump had "been made aware of the proposal" and that "a response will come".

On the macro front, US durable goods orders fell for a third consecutive month in February, according to the Census Bureau, as weakness in the transport sector continued to weigh on headline demand. New orders for long‑lasting manufactured goods declined 1.4% month‑on‑month to $315.5bn, extending January's revised 0.5% drop, driven by a 5.4% fall in transportation equipment, including a sharp 28.6% slide in non‑defence aircraft and parts to $19.2bn. Excluding transport, orders edged up 0.8% month-on-month, bolstered by gains in primary metals, which rose 2.2% to $28.6bn, and machinery, up 1.5% at $41.1bn.

Elsewhere, total US consumer credit rose by $9.48bn in February, according to the Federal Reserve, following a downwardly revised $7.67bn increase in January but below expectations of a $10bn rise. Revolving credit increased by $710m, after increasing $2.57bn in January, while non-revolving credit rose $8.79bn, following a $5.10bn uptick in the previous month.

In the corporate space, iconic jeansmaker Levi Strauss & Co raised its full-year outlook after the close following quarterly figures that beat on both the top and bottom lines.

















Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Unitedhealth Group Inc. (UNH) $307.73 9.37% Intel Corp. (INTC) $52.91 3.56% Dow Chemical Co. (DOW) $41.41 2.10% Cisco Systems Inc. (CSCO) $80.68 1.86% Chevron Corp. (CVX) $201.54 1.35% JP Morgan Chase & Co. (JPM) $297.40 0.66% Caterpillar Inc. (CAT) $724.44 0.44% American Express Co. (AXP) $307.03 0.43% Dowdupont Inc. (DWDP) $0.00 0.00% Walmart Inc. (WMT) $0.00 0.00%

Dow Jones - Fallers

Nike Inc. (NKE) $42.69 -3.04% Home Depot Inc. (HD) $318.77 -2.41% Coca-Cola Co. (KO) $75.91 -1.70% Apple Inc. (AAPL) $253.50 -1.61% McDonald's Corp. (MCD) $304.85 -1.59% Merck & Co. Inc. (MRK) $119.28 -1.30% Amgen Inc. (AMGN) $340.00 -1.21% Salesforce.Com Inc. (CRM) $182.96 -1.12% Boeing Co. (BA) $210.00 -1.08% Verizon Communications Inc. (VZ) $48.62 -1.08%

S&P 500 - Risers

Unitedhealth Group Inc. (UNH) $307.73 9.37% Humana Inc. (HUM) $197.15 7.94% CVS Health Corp (CVS) $78.22 6.74% Broadcom Inc. (AVGO) $333.97 6.01% Arista Networks Inc. (ANET) $133.64 5.85% Starbucks Corp. (SBUX) $95.21 5.78% VeriSign Inc. (VRSN) $274.75 5.29% National Oilwell Varco Inc. (NOV) $19.56 3.88% Intel Corp. (INTC) $52.91 3.56% Booking Holdings Inc. (BKNG) $173.41 3.52%

S&P 500 - Fallers

NetApp Inc. (NTAP) $97.61 -5.79% Gartner Inc. (IT) $148.67 -4.58% PulteGroup Inc. (PHM) $115.09 -3.96% Global Payments Inc. (GPN) $62.70 -3.60% Aptiv PLC (APTV) $58.22 -3.55% Lennar Corp. Class A (LEN) $85.62 -3.33% Norwegian Cruise Line Holdings Ltd (NCLH) $18.73 -3.30% D. R. Horton Inc. (DHI) $137.07 -3.28% United Airlines Holdings Inc (UAL) $89.30 -3.28% Robert Half Inc. (RHI) $24.07 -3.26%

Nasdaq 100 - Risers

Qvc Group Inc Series A (QVCGA) $2.17 8.50% Broadcom Inc. (AVGO) $333.97 6.01% Starbucks Corp. (SBUX) $95.21 5.78% Intel Corp. (INTC) $52.91 3.56% Booking Holdings Inc. (BKNG) $173.41 3.52% Alphabet Inc. Class A (GOOGL) $305.46 3.20% Alphabet Inc. Class C (GOOG) $303.93 3.14% Seagate Technology Plc (STX) $468.72 2.29% Western Digital Corp. (WDC) $311.96 2.12% Gen Digital Inc. (GEN) $19.18 1.96%

Nasdaq 100 - Fallers

Tesla Inc (TSLA) $346.65 -4.85% Netflix Inc. (NFLX) $98.82 -2.87% Workday, Inc. (WDAY) $127.51 -2.81% Intuit Inc. (INTU) $410.24 -2.58% Paypal Holdings Inc (PYPL) $44.87 -2.33% Verisk Analytics Inc. (VRSK) $181.00 -2.06% Cintas Corp. (CTAS) $170.28 -2.04% Align Technology Inc. (ALGN) $166.87 -2.04% Dollar Tree Inc (DLTR) $106.42 -1.99% QUALCOMM Inc. (QCOM) $124.07 -1.80%