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Wall Street Advances
(MENAFN) The New York Stock Exchange ended the session on a positive note as fears diminished over a possible collapse of the temporary ceasefire between the United States and Iran. Investor confidence improved, helping equities move upward across major indices.
The Dow Jones Industrial Average climbed 0.58%, gaining 275.88 points to finish at 48,185.80. Meanwhile, the Nasdaq Composite advanced 0.83%, adding 187.42 points to reach 22,822.42, and the S&P 500 rose 0.62%, up by 41.85 points, closing at 6,824.66.
Market volatility also eased during the trading day. The Volatility Index (VIX), often called the market’s “fear index,” fell 7.37% to 19.49. Despite a rise in crude oil prices, equities maintained a generally upbeat direction, supported by expectations that the two-week ceasefire between the US and Iran would remain intact.
Energy markets moved in the opposite direction, as oil prices increased amid supply worries and reports of disrupted traffic conditions in the Strait of Hormuz. Brent crude rose by roughly 2%, reaching $96.4 per barrel at 2045 GMT.
Sentiment was further influenced by geopolitical developments, as Israeli Prime Minister Benjamin Netanyahu announced that Israel would begin direct negotiations with Lebanon, which helped strengthen risk appetite among investors.
The Dow Jones Industrial Average climbed 0.58%, gaining 275.88 points to finish at 48,185.80. Meanwhile, the Nasdaq Composite advanced 0.83%, adding 187.42 points to reach 22,822.42, and the S&P 500 rose 0.62%, up by 41.85 points, closing at 6,824.66.
Market volatility also eased during the trading day. The Volatility Index (VIX), often called the market’s “fear index,” fell 7.37% to 19.49. Despite a rise in crude oil prices, equities maintained a generally upbeat direction, supported by expectations that the two-week ceasefire between the US and Iran would remain intact.
Energy markets moved in the opposite direction, as oil prices increased amid supply worries and reports of disrupted traffic conditions in the Strait of Hormuz. Brent crude rose by roughly 2%, reaching $96.4 per barrel at 2045 GMT.
Sentiment was further influenced by geopolitical developments, as Israeli Prime Minister Benjamin Netanyahu announced that Israel would begin direct negotiations with Lebanon, which helped strengthen risk appetite among investors.
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