Cease-Fire Dings Oil and Gas Stocks
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US stock futures rose and oil prices plummeted after President Trump announced a two-week ceasefire with Iran. The ceasefire led to a surge in stocks, with the Dow Jones Industrial Average and other indexes seeing significant gains.
US stock futures jumped higher after President Trump announced a ceasefire with Iran. Oil prices fell sharply, with Brent crude futures down 13.5% and West Texas Intermediate futures down 14.7%. The Dow Jones Industrial Average was set to rise 2%, with S&P futures up 2.3% and Nasdaq futures up nearly 3%. Stocks in Asia also rallied, with Japan's Nikkei index rising 5% and Australia's S&P/ASX climbing 2.65%. The ceasefire is subject to Iran agreeing to the safe opening of the Strait of Hormuz. Peace talks between the US and Iran are set to start on Friday in Islamabad.
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