S&P 500 Stages Big Comeback Monday, Erasing Iran War Losses
The S&P 500 surged on Monday as investors renewed bets that the United States and Iran could eventually reach a deal.
The benchmark jumped 1.02% to close at 6,886.24 — its highest close since before the war began. The Nasdaq Composite rose 1.23% to 23,183.74, while the Dow Jones Industrial Average added 301.68 points, or 0.63%, to settle at 48,218.25. The Dow reversed an earlier drop of more than 400 points (about 0.9%), while the S&P 500 was down 0.4% at its session low and the Nasdaq had fallen 0.5%.
Technology shares led the rebound. Software names such as Oracle surged nearly 13% and Palantir Technologies gained more than 3%, helping lift the broader market and pushing the S&P 500 back above its pre-war level.
Stocks extended gains after President Donald Trump said, “We’ve been called by the other side,” adding, “They’d like to make a deal very badly,” which markets took as a sign that diplomatic channels may still be open.
The rebound followed Trump’s announcement of a blockade tied to the Strait of Hormuz after weekend U.S.-Iran talks ended without an agreement. The blockade of maritime traffic in and out of Iran’s ports took effect Monday. U.S. Central Command said the U.S. would not block vessels using the strait to reach non-Iranian ports.
Source : Newsmaker.id
