S&P 500, Nasdaq and Dow Jones Industrial Average opened higher on Wednesday as the optimism around Iran war ending rose. Wall Street advances as US President Donald Trump in a post on Truth Social claimed that Iran’s New Regime President has asked US for a ceasefire.
Minutes into the trade, the Dow Jones Industrial Average rose 374.61 points or 0.81%, S&P 500 also rose over 0.59%, while Nasdaq was up 0.81%.
Trump further added that he will consider it ‘when Hormuz Strait is open, free and clear’. “Until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!,” he said in his post on Wednesday.
The comments come after he hinted at ending the Iran war sooner, saying that the US is not going to be there too much longer, despite Defense Secretary Pete Hegseth warning that the upcoming days in Tehran will be decisive amid escalating tensions.
ALSO READ: Trump’s Big Claim: Iran’s ‘New President’ Asked For Ceasefire; US To Agree If Hormuz Opens
Boeing Co. rose over 2%, while Walt Disney Co., JPMorgan Chase & Co., Nvidia Corp. were up over 1%. On the other hand, Nike Inc., McDonald’s Corp. and Procter & Gamble Co. were among the losers for the day.
As the US market opened, spot gold rose 1.3% to $4,727.18 an ounce. Even as stocks gained, crude prices fell with the West Texas trading 0.7% lower at $100.66 per barrel. Brent crude futures at some point had fallen below $100 a barrel but recovered to trade near $103.
The Bloomberg Dollar Index fell 0.3%, with the British Pound rising 0.6% at $1.3304 and the Japanese yen was at 158.54 per dollar.
Bitcoin, the largest traded cryptocurrency was up 0.2% at $68,339.68.
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