US stocks rally as S&P 500, Nasdaq erase Iran war losses
The S&P 500 and Nasdaq closed higher on Monday, wiping out all losses triggered by the Iran war, as investors bet on a eventual US-Iran deal despite a new naval blockade. The Dow rose 0.63%. Oil prices remained near $100 amid supply concerns over the Strait of Hormuz.
US stock markets rallied on Monday, with the S&P 500 and Nasdaq erasing all declines stemming from the Iran war. The Dow Jones Industrial Average gained 0.63% (301.68 points) to close at 48,218.25. The Nasdaq Composite rose 1.23% (280.84 points) to 23,183.74, while the S&P 500 added 1.02% (69.35 points) to 6,886.24.
Trump comments boost sentiment
The advance pushed both indexes above pre-war levels from late February, reflecting rapid sentiment recovery following a temporary ceasefire last week and the start of earnings season. Technology shares led gains after President Trump told reporters that Iran “would like to make a deal very badly,” helping offset earlier unease over a new US naval blockade on Iranian ports. Weekend talks in Islamabad had ended without a breakthrough, but signals from Washington kept diplomatic hopes alive.
Oil near $100, mediators step in
Oil prices jumped on supply concerns tied to the Strait of Hormuz but later retreated, with Brent settling at $99.36 and WTI at $99.08. Pakistan, Egypt, and Türkiye are expected to continue mediating between Washington and Tehran, according to Axios. IEA chief Fatih Birol warned that over 80 Middle East energy facilities have been damaged since Feb. 28, and restoring supplies could take two years. European markets ended mostly lower, with Germany’s DAX slipping 0.26%.
Advertisement
Comments you share on our site are a valuable resource for other users. Please be respectful of different opinions and other users. Avoid using rude, aggressive, derogatory, or discriminatory language.