Stocks Extend Gains as Traders Hope Iran Ceasefire Can Hold
U.S. stocks rose for a second straight session on Thursday, even as oil prices climbed, as investors stayed optimistic that the fragile two-week ceasefire between the United States and Iran can be sustained.
The S&P 500 was up 0.4%, while the Nasdaq Composite gained 0.6%. The Dow Jones Industrial Average added 143 points, or 0.3%.
Crude prices advanced again. West Texas Intermediate futures were last up about 3% to above $98 a barrel after earlier topping $100, while international benchmark Brent crude futures traded about 1% higher at above $95 a barrel.
The S&P 500 moved further into positive territory and oil pulled back from session highs after Israeli Prime Minister Benjamin Netanyahu said Israel has agreed to open direct negotiations with Lebanon, a development markets viewed as potentially easing regional tensions.
Uncertainty remains, however. Iran’s parliamentary speaker Mohammad Bagher Ghalibaf has accused the U.S. of already violating the ceasefire agreement, citing Israel’s continued attacks on Lebanon, a drone entering Iranian airspace, and the denial of Iran’s right to enrich uranium.
Equities also got a lift from a more than 3% jump in Meta Platforms shares after the company unveiled a new artificial intelligence model. Defensive areas rose as well, with Walmart higher alongside utilities names such as Constellation Energy.
Source : Newsmaker.id
