US-Iran Ceasefire Deal Lifts New York Stocks at Open
Summary
- News that the US and Iran had successfully reached a ceasefire agreement sent New York’s three major stock indexes higher at the open.
- Reuters said Wall Street’s main indexes rose after oil prices plunged on a preliminary agreement to end the Middle East war and reopen the Strait of Hormuz.
- The MOU agreed by the US and Iran centers on reopening the Strait of Hormuz, lifting the US naval blockade and holding 60 more days of talks, with the signing set for Switzerland on June 19.
Forecast Trend Report by Period
New York’s three major stock indexes opened higher on June 15 after the US and Iran reached an agreement to end the war.
The Dow Jones Industrial Average rose 569.90 points, or 1.17%, to 51,799.16 as of 9:33 a.m. in New York, Reuters reported.
The S&P 500 opened 85.3 points, or 1.15%, higher at 7,516.75, while the Nasdaq Composite began trading up 558.4 points, or 2.16%, at 26,447.23.
Wall Street’s major indexes advanced after oil prices tumbled on a preliminary agreement to end the Middle East war and reopen the Strait of Hormuz, Reuters said.
The memorandum of understanding reached by the US and Iran calls for reopening the Strait of Hormuz, lifting the US naval blockade and holding 60 days of additional talks. The MOU is scheduled to be signed in Switzerland on June 19.
Park Su-rim, Hankyung.com reporter paksr365@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
