S&P 500 Extends Rally to a Fourth Day as Markets Watch for Last-Minute Iran Ceasefire
The S&P 500 rose on Monday for a fourth straight session as oil prices swung and investors held out hope that the U.S.-Iran war could end soon.
The broad index added 0.44% to close at 6,611.83. The Nasdaq Composite gained 0.54% to finish at 21,996.34, while the Dow Jones Industrial Average climbed 165.21 points, or 0.36%, to settle at 46,669.88.
Axios reported that the U.S., Iran, and a group of regional mediators have been discussing terms for a potential 45-day ceasefire that could lead to a permanent end to the war, though the chances of reaching even a partial deal before Tuesday’s deadline were described as slim. The report noted that a 45-day ceasefire is only one of several ideas being floated.
In a separate report, Reuters said Iran and the U.S. have received a plan to end hostilities that, if agreed, would deliver an immediate ceasefire and the reopening of the Strait of Hormuz. The framework, which could take effect as soon as Monday, was put together by Pakistan, according to an unnamed source cited by Reuters.
President Donald Trump reiterated on Monday that the U.S. would destroy Iran’s power plants and bridges if Tehran does not reopen the Strait by 8 p.m. ET on Tuesday, echoing warnings he made a day earlier.
Source : Newsmaker.id
