US stocks jump after Trump delays strikes on Iran's power plants

STORY: U.S. stocks staged a sharp recovery on Monday, with the Dow, S&P 500 and the Nasdaq all gaining more than one percent.:: FileAnd the small-cap Russell 2000 rose more than two percent after confirming on Friday that it had been in correction territory.Stock futures were trading lower early in the morning until President Donald Trump said he had postponed military strikes on Iranian power plants after what he called "productive conversations" with Tehran. But Iran's Parliamentary Speaker refuted Trump's comment on social media.Still, oil prices settled down more than 10% and all of the S&P 500's 11 major industry sectors advanced.Eric Lynch is managing director and co-portfolio manager at Suncoast Equity Management."The biggest bounce back today within the markets on the equity side are those stocks that have actually been hit the hardest since this whole thing began. So names that are very interest rate sensitive or energy sensitive, travel companies, banks, things like that are seeing a nice bounce. Small caps seeing a big bounce. International stocks seeing a solid bounce. Small caps, international are both more levered to kind of cyclicality. Particularly overseas, there's still a lot more energy sensitivity."Among individual movers, shares of Synopsys gained nearly 3% after Reuters reported that activist investor Elliott Investment Management has amassed a multibillion-dollar stake in the electronic design automation firm.Shares of Super Micro Computer recovered by 5% after tumbling 33% on Friday after U.S. prosecutors charged three people linked to the AI server maker, including its co-founder, with helping to smuggle billions of dollars worth of AI technology into China. Super Micro's co-founder resigned from the company's board late Friday.And shares of Estee Lauder dropped nearly 8% after the beauty firm said it is in talks to potentially merge with Barcelona-based beauty group Puig, the company behind perfume brands Rabanne, Carolina Herrera and Jean Paul Gaultier.