US Stocks Jump On War Ceasefire Deal As Oil Shares Fall
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US stocks surged after the US and Iran agreed to a two-week ceasefire, allowing the Strait of Hormuz to reopen. The Dow Jones Industrial Average rose 3.0% and the S&P 500 increased 2.6% as oil prices fell due to the expected return of oil shipments.
Wall Street stocks rose in early trading after the US and Iran agreed to a ceasefire. The Dow Jones Industrial Average was up 3.0% and the S&P 500 rose 2.6%. Airline shares rallied, while oil equities fell as crude prices dropped. The ceasefire allows the Strait of Hormuz to reopen, permitting oil shipments to resume. US stocks had previously fallen due to concerns over the conflict. The market reaction was positive, but uncertainty remains.
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