U.S. Stocks Surge Amid Extending Ceasefire with Iran
U.S. stocks rose as President Trump extended the Iran ceasefire, boosting investor confidence despite ongoing uncertainty over a potential peace deal. The ceasefire extended after Pakistani mediation hasn't lifted the U.S. Navy blockade, leaving market watchers alert to developments in the Strait of Hormuz, a crucial oil route.
U.S. stocks climbed on Wednesday, snapping a two-day losing streak for the S&P 500 and Nasdaq, following President Trump's indefinite extension of the ceasefire with Iran. Although tensions eased, uncertainty looms over potential peace talks.
Pakistani mediators requested the ceasefire extension, but the U.S. naval blockade on Iranian ports continues, with Iran seizing ships in the strategic Strait of Hormuz — a key player in global oil supply.
Market sentiments improved with benchmarks rising: the S&P 500 gained over 73 points to close at 7,137.12, while the Nasdaq and Dow also saw significant gains amid optimism over corporate earnings and geopolitical developments.
(With inputs from agencies.)
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