Dow Surges 1,100 Points as Hopes Grow for End of Iran War
Stocks rose on Tuesday following new reports giving investors hope that the U.S.-Iran war could soon come to an end.
The Dow Jones Industrial Average was up 1,125.07 points, or 2.49%. This move came after an unconfirmed report said Iranian President Masoud Pezeshkian was open to ending the war with guarantees. The S&P 500 gained 2.91%, and the Nasdaq Composite advanced 3.83%, with both on pace for their best day since May.
Pezeshkian had made similar remarks earlier this month, saying in a post on X that the "only way to end this war — ignited by the Zionist regime & [U.S.] — is recognizing Iran’s legitimate rights, payment of reparations, and firm international guarantees against future aggression."
The Wall Street Journal reported that President Donald Trump had told aides he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remained largely shut. The New York Post later reported the president said he believes the Iran war will likely end soon, with other nations taking the lead in reopening the Strait of Hormuz.
Technology, which has been under pressure since the conflict began, rose broadly. The Technology Select Sector SPDR Fund (XLK) traded 4% higher. Nvidia climbed more than 5%, and Microsoft advanced more than 3%.
Source : Newsmaker.id
