US stocks-S&P 500, Dow rise as AI boost counters US-Iran tensions
SPY•Major indexes and biggest movers
At 9:56 a.m. ET, the Dow Jones Industrial Average .DJI rose 246.01 points, or 0.47%, to 53,012.89, the S&P 500 .SPX gained 8.22 points, or 0.11%, to 7,639.69 and the Nasdaq Composite .IXIC lost 14.92 points, or 0.06%, to 26,084.86.
Major movers included Dell DELL.N, which gained 6.7% after raising its annual profit and revenue forecast.
Brown-Forman BFb.N rose 4.2% after the Jack Daniel's maker beat first-quarter profit estimates.
The Magnificent Seven group of stocks was mixed, with Nvidia NVDA.O up 1.2%, while Microsoft MSFT.O and Tesla TSLA.O fell 0.5% and 1%, respectively.
Seasonal weakness and sector moves
Investors are contending with seasonal weakness too. Since 1926, the benchmark S&P 500 has lost 0.7% on average in September, making it the weakest month for stocks and the only one with a negative average return, according to Fisher Investments, which cited data from Finaeon.
