US Stocks Rise After Israel, Iran Ceasefire
(MENAFN) US stock markets experienced positive movement on Tuesday following an announcement from US President Donald Trump about a ceasefire agreement between Israel and Iran.
This development halted the armed conflict that had been ongoing since June 13.
The Dow Jones Industrial Average saw an increase of 1.19 percent, rising by 507.24 points to close at 43,089.02.
The S&P 500 gained 1.11 percent, reaching 6,092.18 points, while the Nasdaq Composite rose by 1.43 percent, finishing at 19,912.53.
Airline stocks saw gains as oil prices dropped, with United Airlines, Frontier, and Delta all experiencing increases of over 2 percent.
Technology companies also performed well, with Broadcom rising 3.9 percent and Nvidia increasing by 2.5 percent, reflecting a growing investor appetite for higher-risk assets.
The ceasefire deal was first disclosed by President Trump, who explained that the agreement would be implemented in phases.
Iran was to begin the ceasefire, with Israel following suit 12 hours later. The full cessation of hostilities would be declared at the 24th hour, Trump stated.
Iranian President Masoud Pezeshkian affirmed that Iran would honor the ceasefire, as long as Israel does not breach it.
In other news, Federal Reserve Chairman Jerome Powell emphasized that the central bank is prepared to wait for more information about the economic outlook before making any changes to its current policy stance.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
