US Stocks Jump On War Ceasefire Deal As Oil Shares Fall

A trader works at his desk on the floor of the New York Stock Exchange (NYSE) (Photo by ANGELA WEISS / AFP) Wall Street stocks surged in early trading Wednesday after the United States and Iran agreed to a two-week ceasefire that sets terms to reopen the vital Strait of Hormuz. Airline shares rallied and oil equities retreated as crude prices tumbled in response to the expected return of shipments of oil and other key products through the strait. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); About 20 minutes into trading, the Dow Jones Industrial Average was up 3.0 per cent at 47,998.72. The broad-based S&P 500 rose 2.6 percent to 6,786,45, while the tech-rich Nasdaq Composite Index soared 3.2 percent to 22,716.15. US stocks had retreated Tuesday as the market nervously awaited President Donald Trump’s deadline for war-rival Iran to reopen the Strait of Hormuz or face devastating bombing. READ ALSO:   Oil Rallies, Stocks Tumble As Trump Says US To Hammer Iran Further Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); Under an eleventh-hour ceasefire, Tehran has agreed to temporarily reopen the narrow waterway, sending oil prices tumbling. But its demands over future control of the strait, uranium enrichment and sanctions are at deep odds with the United States. Steve Sosnick of Interactive Brokers called Wednesday’s market reaction “somewhat euphoric” but noted that much uncertainty remains. “I will caution that this is a ceasefire, not a peace treaty,” Sosnick said. “And in some ways, there are still unresolved questions.” Shares of major US carriers, including United Airlines and Southwest Airlines, rose more than 10 percent, while oil companies such as ExxonMobil and Chevron fell more than five percent. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); }); AFP Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: market Stocks us War More Stories SEC Issues Six-Week Ultimatum To Market Operators On Recapitalisation Plan Naira To Dollar Exchange Rate Today, March 23, 2026 Dollar Gains As Investors Avoid Escalating Mideast War Risks /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.

SOURCE: https://www.channelstv.com/2026/04/08/us-stocks-jump-on-war-ceasefire-deal-as-oil-shares-fall/