U.S. stocks moved up after Donald Trump said the United States and Iran had constructive talks that could help calm tensions in the Middle East.
The Dow Jones Industrial Average climbed more than 600 points, with the S&P 500 and Nasdaq Composite also closing higher. Investors appeared encouraged by the possibility that the conflict may not escalate further, after weeks of uncertainty that pushed oil prices up and weighed on markets.
Trump said the U.S. would pause potential strikes on Iranian energy sites while discussions continue. That update helped ease worries about supply disruptions, especially involving shipments passing through the Strait of Hormuz, one of the world’s most important oil routes.
Oil prices dropped after the news came out, helping the overall market to bounce back. Stocks in areas like technology, finance, and industry all went up as investors responded to hints that tensions might ease.
There’s still some uncertainty about what will happen next, but the change in sentiment provided some relief to markets that have been struggling lately.
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