US stocks rise and oil prices trim their gains on hopes for the ceasefire with Iran
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US stocks rose on Thursday, with the S&P 500 gaining 0.6%, as financial markets reacted to hopes for a ceasefire in the war with Iran. Oil prices also increased, but pared some of their gains, with crude oil rising 3.7% to $97.87 per barrel.
US stocks rose on Thursday, despite initial losses. The S&P 500 gained 0.6% and the Dow Jones Industrial Average added 275 points. Oil prices increased, but pared some gains, due to uncertainty about the Strait of Hormuz. The price of crude oil rose 3.7% to $97.87 per barrel. Stocks were also influenced by mixed reports on the US economy. The yield on the 10-year Treasury edged down to 4.28%.
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