Stocks Extend Gains for a Second Day 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 held in 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.
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.
Source : Newsmaker.id
