US stocks rise amid diplomatic efforts to ease the Israel-Hamas conflict

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President Joe Biden.AP Photo/Patrick Semansky

  • US stocks climbed Monday amid diplomacy efforts in the Middle East.

  • Secretary of State Antony Blinken visited Israel Monday, and President Joe Biden is considering a trip.

  • Traders also are watching for earnings from Tesla, Bank of America, and Goldman Sachs this week.

US stocks moved higher in Monday’s trading session amid US diplomacy efforts to contain the conflict between Israel and Hamas.

Secretary of State Antony Blinken was in Israel again on Monday after traveling there last week. President Biden, who is also weighing a trip to Israel, said on Sunday Hamas should be eliminated entirely and a path should be opened to allow for a Palestinian state.

Separately, Israel announced Monday that at least 199 people are being held hostage in Gaza, CNN reported.

Meanwhile, traders are also preparing for a slate of earnings this week, including top names like Tesla, Netflix, Goldman Sachs, and Bank of America.

Federal Reserve Bank of Philadelphia President Patrick Harker suggested again on Monday that the central bank could be at the end of its tightening cycle.

“Holding rates steady will let monetary policy do its work. I am sure policy rates are restrictive, and as long they remain so, we will steadily press down on inflation and bring markets into a better balance,” he said, per CNBC.

Here’s where US indexes stood as the market closed at 4:00 p.m. on Monday: 

Here’s what else is going on: 

In commodities, bonds, and crypto: 

Read the original article on Business Insider

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