Four vessels have been attacked in the Strait of Hormuz over recent days, while another tanker was intercepted and turned back by Iran's Islamic Revolutionary Guard Corps (IRGC), the United Kingdom Maritime Trade Operations (UKMTO) said Monday.
According to UKMTO advisories published on the day, two oil tankers and a liquefied petroleum gas (LPG) carrier were struck by unknown projectiles in the Strait of Hormuz over the weekend. Investigations into the attacks are ongoing.
On Monday, another oil tanker was hit by an unknown projectile in the strait, sparking a fire in the engine room. UKMTO reported no casualties or environmental damage from that incident.
In a separate advisory, UKMTO said that an oil tanker entering the strait was ordered to turn around by the IRGC at about 11 nautical miles north of Khasab, Oman under threat of attack. The vessel complied and reversed course.
Multiple vessels attacked in Strait of Hormuz: British maritime agency
U.S. stocks closed higher on Monday, as strength in artificial intelligence and technology stocks overcame a renewed surge in Treasury yields to 24-year highs.
The Dow Jones Industrial Average rose 90.94 points, or 0.18 percent, to 51,267.90. The S and P 500 added 51.23 points, or 0.66 percent, to 7,773.95. The Nasdaq Composite Index increased by 286.45 points, or 1.05 percent, to 27,477.31, notching a record closing high.
Ten of the 11 primary S and P 500 sectors ended in the green, with materials and communication services leading the gainers by adding 1.22 percent and 1.14 percent, respectively. Real estate bucked the trend, losing 0.44 percent.
U.S. Treasury yields climbed back toward multidecade highs on Monday. The benchmark 10-year yield settled at 5.31 percent, its highest close since April 2002, after trading above 5.35 percent intraday. The 30-year yield rose 3.5 basis points to 5.66 percent, its highest settlement since May 2002. The two-year yield stood at 4.83 percent.
Oil prices fell as traders weighed the Group of Seven's agreement to release 100 million barrels of crude and diesel from emergency reserves, alongside recovering Middle East exports. The West Texas Intermediate for November delivery decreased by 1.68 U.S. dollars, or 1.84 percent, to settle at 89.43 dollars a barrel. Brent crude for December delivery lost 1.93 dollars, or 1.89 percent, to settle at 100.32 dollars a barrel.
On the corporate front, Nvidia rose more than 2 percent to a record high for the second straight session, remaining the world's most valuable public company. PTC soared 33.49 percent, the S and P 500's best performer, after Schneider Electric agreed to acquire it at 205 dollars per share in a 22.6-billion-dollar all-cash deal, a 42.3 percent premium. By contrast, Schneider fell nearly 10 percent.
SpaceX jumped over 7.5 percent after Morgan Stanley initiated coverage with an overweight rating and a 300-dollar target. Western Digital climbed over 6 percent and Seagate gained about 4.5 percent, rebounding from Friday's plunge on a Toshiba capacity report. Cerebras gained 9.08 percent after OpenAI's Sam Altman called it a "close partner."
On the economic front, the ISM services index for September came in at 54.9, down from 55.4 in August and roughly in line with expectations. Traders see about a 24 percent chance of a rate hike at the Fed's October meeting, down from 71 percent a week ago, according to CME FedWatch.
U.S. stocks close higher despite surging Treasury yields
