A cautious relief swept through financial markets after President Donald Trump said the United States has talked with Iran about a possible end to their war.
Oil prices eased Monday, and stock prices jumped on Wall Street following severe losses taken elsewhere in the world before Trump’s announcement. The S&P 500 rallied 1.1% for its best day since the war began. The Dow Jones Industrial Average rose 1.4%, and the Nasdaq composite climbed 1.4%.
Brent crude fell back below $100 per barrel. But the moves were even sharper in the morning, before Iranian officials denied that talks were underway with the United States.
On Monday:
The S&P 500 rose 74.52 points, or 1.1%, to 6,581.
The Dow Jones Industrial Average rose 631 points, or 1.4%, to 46,208.47.
The Nasdaq composite rose 299.15 points, or 1.4%, to 21,946.76.
The Russell 2000 index of smaller companies rose 55.78 points, or 2.3% to 2,494.23.
For the year:
The S&P 500 is down 264.50 points, or 3.9%.
The Dow is down 1,854.82 points, or 3.9%.
The Nasdaq is down 1,295.23 points, or 5.6%.
The Russell 2000 is up 12.32 points, or 0.5%.
