Closing Bell Movers: Futures up on Iran/Israel truce, KB Home slips on outlook

In the opening hour of the evening session, U.S. equity futures have opened with moderate gains as President Trump messaged on Truth Social that Iran and Israel have reached a ceasefire agreement “at which point the War will be considered, ENDED.”  S&P 500 September contract is up 0.5%, Nasdaq is up 0.6%, and Dow Industrials are up 0.4%.  Conversely, with geopolitical risk premium flowing out, WTI Crude Oil futures are down nearly 5% around $65 per barrel and while Gold and Silver are down about 1%.  

Earlier on Monday, Consumer Discretionary and Real Estate were the top performing sectors on the S&P 500 while Energy was the worst performing sector.   Tesla was the best performing name on the index with a rally of over 8% following the launch of its cybercab in Austin.  Widely followed Tesla bull Dan Ives of Wedbush Securities wrote that he was “very impressed” with the launch, saying it has “lit the spark” for autonomous driving, though a Bloomberg report late in the session indicated that NHTSA was looking into some instances where the cybercab autonomous driving violated some of the traffic rules.

Afterhours, homebuilder KB Home reported Q2 results with a beat on top and bottom line, though the company also guided lower its FY25 housing revenue midpoint range as well as the average home sales price, sending the stock down by just over 2%.

Check out this evening’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Nektar Therapeutics (NKTR) up 31.2% after disclosing it will announce induction period in REZOLVE-AD study of Rezpegaldesleukin

DOWN AFTER EARNINGS –

• KB Home (KBH) down 2.3%

ALSO LOWER –

•  Chewy (CHWY) down 2.1% after equity offering