U.S. stocks rallied to the edge of their all-time high, and crude oil prices eased as hopes climbed that the United States and Iran may try again on talks to end their war.
The S&P 500 rose 1.2% Tuesday, bringing the index within 0.2% of its record set in January. The Dow gained 0.7%, and the Nasdaq composite climbed 2%.
If talks succeed and the war ends up being only a temporary setback for the global economy, investors can turn their attention back to the rising profits for companies that had markets worldwide doing well before the fighting began.
On Tuesday:
The S&P 500 rose 81.14 points, or 1.2%, to 6,967.38.
The Dow Jones Industrial Average rose 317.74 points, or 0.7%, to 48,535.99.
The Nasdaq composite rose 455.35 points, or 2%, to 23,639.08.
The Russell 2000 index of smaller companies rose 35.18 points, or 1.3% to 2,705.67.
For the week:
The S&P 500 is up 150.49 points, or 2.2%.
The Dow is up 619.42 points, or 1.3%.
The Nasdaq is up 736.19 points, or 3.2%.
The Russell 2000 is up 75.08 points, or 2.9%.
For the year:
The S&P 500 is up 121.88 points, or 1.8%.
The Dow is up 472.70 points, or 1%.
The Nasdaq is up 397.09 points, or 1.7%.
The Russell 2000 is up 223.76 points, or 9%.
