New York stocks surge across the board on ceasefire hopes…Nasdaq +3.8%

Source

Korea Economic Daily

Summary

It said all three major U.S. stock indexes in New York closed higher on expectations that the Iran war may end.
It noted that the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite surged 2.49%, 2.91% and 3.83%, respectively.
It said the rally was driven by bargain-hunting following signals of willingness to end the war from President Trump and Iran.

Forecast Trend Report by Period

All three major U.S. stock indexes in New York closed higher on expectations that the Iran war may come to an end.

On the 31st, the Dow Jones Industrial Average rose 1,125.07 points (2.49%) from the previous session to finish at 46,341.21.

The Standard & Poor’s (S&P) 500 gained 184.80 points (2.91%) to 6,528.52, while the tech-heavy Nasdaq Composite added 795.99 points (3.83%) to close at 21,590.63.

The Dow Jones Industrial Average, comprising 30 blue-chip stocks, ended up 2.49% from the previous session at 46,341.21.

The large-cap-focused S&P 500 closed up 2.91% at 6,528.52, and the tech-heavy Nasdaq Composite finished up 3.83% at 21,590.63.

The Wall Street Journal (WSJ) reported that President Donald Trump recently told aides he intended to end the Iran war without reopening the Strait of Hormuz. A response from Iran that a ceasefire was prepared also supported sentiment. As both sides signaled an intention to end the war the same day, hopes that the conflict was entering its final phase spread quickly, triggering strong bargain-hunting.

However, U.S. Defense Secretary Pete Hegseth warned in a press briefing that “the next few days are critical,” and threatened that tougher strikes would be carried out if Iran does not agree.

Soo-young Kim, Hankyung.com reporter swimmingk@hankyung.com