Wall Street opens higher after Trump extends Iran ceasefire, hints at more talks
Wall Street stock markets opened higher on Wednesday following President Donald Trump's announcement of an indefinite extension to the US-Iran ceasefire. The move came as investors weighed the ceasefire against ongoing oil supply disruptions through the Strait of Hormuz.
US stock markets opened higher on Wednesday after President Donald Trump announced an indefinite extension to the US-Iran ceasefire. The S&P 500, NASDAQ Composite, and Dow Jones Industrial Average rose by 0.7%, 0.7%, and 0.9% respectively. Trump's announcement came after the close of US markets on Tuesday, when the main averages ended lower due to uncertainty around fresh negotiations between the US and Iran. Despite the ceasefire, oil supply disruptions through the Strait of Hormuz continued, with three ships being attacked on Wednesday. US retail sales in March outpaced expectations, driven by a sharp jump in gas station sales due to the Iran-linked energy shock. Analysts suggest that markets may be starting to believe that the peak of the geopolitical strife in the Middle East has passed.
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