01:37 PM EDT, 03/16/2026 (MT Newswires) -- US equity indexes rose in midday trading on Monday as investors looked for signs of easing shipment disruption in the Strait of Hormuz amid the Middle East conflict.

The Nasdaq Composite rose 1.4% to 22,411.4, with the S&P 500 up 1.1% to 6,705.7. The Dow Jones Industrial Average gained 0.8% to 46,932.4. All sectors were in the green, led by technology and consumer discretionary sectors.

Multiple tankers passed through the Strait over the weekend, according to Bloomberg. The development coincides with US President Trump mounting pressure on allies to join the US in its Iran operations, warning NATO faces a "very bad future" if they don't support it, according to the Financial Times.

West Texas Intermediate crude oil futures slipped 3.9% to $94.84.

US Treasury yields fell, with the 10-year yield down 4.9 basis points to 4.24%. The two-year yield slipped 4.8 basis points to 3.69%.

In economic news, industrial production rose 0.2% in February, compared with 0.7% in January and higher than 0.1% forecast by analysts surveyed by Bloomberg. Manufacturing output rose 0.2% in February from 0.8% in the month earlier and above the 0.1% expected in a Bloomberg-compiled survey.

The National Association of Home Builders' monthly housing market index rose to 38 in March from an upwardly revised print of 37 in the month earlier, and higher than the 37 estimated in a survey compiled by Bloomberg.

"Affordability for buyers and builders remains a top concern," said NAHB Chairman Bill Owens. "Many buyers remain on the fence waiting for lower interest rates and due to economic uncertainty."

The Empire State Manufacturing Index in March declined to -0.2 from 7.1 in February, and below the 3.9 estimated by analysts surveyed by Bloomberg, primarily due to a drop in shipments, prolonged delivery times, pressures on supply availability.

In company news, Nebius ( NBIS ) entered a five-year AI infrastructure supply deal with Meta Platforms ( META ) worth around $27 billion. Under the agreement, Nebius ( NBIS ) will supply $12 billion in dedicated capacity leveraging the Nvidia ( NVDA ) Vera Rubin platform across locations starting in 2027. Nebius ( NBIS ) shares rose 15.3%, while Meta shares gained 2%.

Micron Technology ( MU ) said Sunday it closed its acquisition of Powerchip Semiconductor Manufacturing's P5 semiconductor site in Miaoli County, Taiwan, which will operate as an extension of its campus in Taichung, according to a statement. Micron shares were up 5.5%.

Gold futures slipped 1.1% to $5,006.40 per troy ounce, and silver futures declined 0.5% to $80.92 per troy ounce.