Stock Market Update

[BRIEFING.COM] The major averages have added to their modest early gains with the S&P 500 now up 0.5%.

President Trump was asked at a press conference about the potential for a U.S. strike on Iranian facilities, but he refused to commit one way or the other, saying that it is not too late for Iran to resume negotiations.

Eight sectors trade with early gains with materials (+0.4%) trailing the broader market as weakness in names like CF Industries (CF 101.23, -1.25, -1.2%) and Dow (DOW 29.07, -0.37, -1.4%) masks a strong start from Nucor (NUE 125.89, +3.89, +3.2%) after the company issued strong guidance for Q2. Meanwhile, Steel Dynamics (STLD 131.48, -1.68, -1.3%) is the worst performer in the sector after the company issued soft guidance for Q2. On a related note, Nippon Steel's acquisition of U.S. Steel was closed, so shares of U.S. Steel no longer trade on the New York Stock Exchange.