Stock Market Update

[BRIEFING.COM] The S&P 500 (+1.1%), Nasdaq Composite (+1.5%), and DJIA (+1.1%) are hovering near session highs at midday.

President Trump told PBS News in an interview that the Iran war "has a very good chance of ending", noting that Iran will pledge to halt operations on their underground nuclear facilities and threatening more bombing if Iran does not agree. Crude oil remains firmly lower, currently down $7.06 (-6.9%) to $95.21 per barrel.

Back on the earnings front, Uber (UBER 78.60, +5.65, +7.74%) is surging following a standout Q1 earnings report that topped consensus on both the top and bottom lines, with gross bookings and adjusted EBITDA coming in above the high end of guidance. Profitability grew at more than twice the rate of bookings, underscoring meaningful operating leverage, and forward guidance was issued roughly in line with Street expectations.

The stock is the best-performing component of the industrials sector (+2.2%), which is supported by solid gains across Carrier Global (CARR 68.12, +3.94, +6.14%) and GE Aerospace (GE 304.28, +17.60, +6.14%) as well.