US Stocks Rally, Oil Prices Fall as Trump Calls Off Fresh Iran Strikes
Trump said talks with Iran reached high-level approval as the S&P 500 rose 1.4% and West Texas Intermediate crude fell 3%.
- On Thursday, President Donald Trump called off planned strikes against Iran after citing discussions with "the highest level of Iranian leadership." The pivot sent stocks soaring and oil prices lower, marking the market's best day in two months.
- Wednesday's sell-off, driven by red-hot inflation and a May jobs report, gave way to investor relief as geopolitical tensions eased. The Dow had dropped more than 900 points the prior day amid economic recalibration concerns.
- West Texas Intermediate crude futures dropped 3% on Thursday afternoon, while the Nasdaq Composite rallied 2.5% and the Dow rose 1.9%. Strong gains for airline stocks helped offset a slide for Oracle as oil-sensitive sectors climbed significantly.
- Elon Musk's SpaceX priced its initial public offering at $135 per share, valuing the company at $1.77 trillion. The offering raised $75 billion, with shares expected to begin trading on Friday.
- Traders turn attention next to the Federal Reserve policy meeting on June 16 and 17. Markets broadly expect the Fed to hold interest rates steady, with investors pricing in at least one 25 basis point rate hike by year-end.
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Wall Street extends gains ahead of SpaceX debut; Trump claims a breakthrough in Iran war talks
Wall Street’s rebound continued and oil prices sank more than 3% after U.S. President Donald Trump claimed there was a breakthrough in talks to end the Iran war. Futures for the S&P 500 were 0.6% higher before the opening bell…
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Oil Prices Slide as Trump Halts Iran Strike Plans and Markets Weigh Prospects for Middle East Peace
Oil prices fell sharply on Friday, extending losses from the previous trading session after U.S. President Donald Trump announced that he had canceled planned military strikes against Iran. The decision eased immediate concerns about a wider conflict in the Middle East and prompted traders to reassess the risk premium that had driven crude prices higher in recent months.
Oil prices fell after US President Donald Trump said there had been progress in negotiations to end the war with Iran.
Dow Jumps Over 900 Points On US-Iran Deal Optimism: Investor Sentiment Improves, Greed Index Remains In '
The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, while the index remained in the “Fear” zone on Thursday. U.S. stocks settled higher on Thursday, with the Dow Jones index surging more than 900 points during the session after President Donald Trump called off "scheduled" strikes on Iran amid hopes for a peace deal. Lam Research Corp. (NASDAQ:LRCX) surged around 13% after Cantor lifted its target to $425 fr…
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