U.S. Stocks Rise at Start of April as Markets Price in Potential End to Iran War
U.S. equities climbed on Wednesday while oil prices eased to begin April, as investors grew more optimistic that the U.S.-Iran war could be nearing an end.
The S&P 500 rose 0.72% to close at 6,575.32, while the Nasdaq Composite gained 1.16% to finish at 21,840.95. The Dow Jones Industrial Average added 224.23 points, or 0.48%, ending the session at 46,565.74.
Sentiment improved after President Donald Trump said in a Truth Social post Wednesday morning that Iran’s president had asked the U.S. for a ceasefire. Trump added that Washington would consider the offer once the Strait of Hormuz is “open, free, and clear,” while warning that U.S. military action would continue until that condition is met.
The comments followed remarks Trump made to reporters at the White House late Tuesday, when he said he expects U.S. military forces to leave Iran in “two or three weeks.”
Oil prices retreated after those signals, as traders weighed the possibility that de-escalation could reduce the risk of prolonged supply disruptions. West Texas Intermediate futures settled down 1.24% at $100.12 a barrel, while Brent crude futures fell 2.7% to settle at $101.16 a barrel.
“The market is kind of just sniffing out that there’s probably some type of resolution in the next couple of weeks,” said Patrick Ryan, chief investment strategist and head of multi-asset solutions at Madison Investments.
Optimism around a potential end to the war had already fueled a sharp rally on Tuesday, the final trading session of March.
Source : Newsmaker.id
