Separately, reports that Iranian President Masoud Pezeshkian issued a statement that Tehran is ready to end the war, in exchange for security guarantees, sent stocks even higher around midday.
RECOMMENDED STORIES
The S&P 500 gained 2.5%. The Dow gained 850 points, or 1.9%. And the Nasdaq, which had entered correction last week, rebounded sharply — gaining 3.3%.
Oil futures also fell somewhat. Brent futures for May delivery dropped 2.7% to $104.50 a barrel, and US oil declined 1.6% to just over $101 a barrel.
The rebound comes after The Wall Street Journal today reported that President Donald Trump told White House staff that he’d be open to ending the war with Iran even without reopening the Strait of Hormuz. Those comments were more or less confirmed by Secretary of Defense Pete Hegseth during a news conference this morning.
Although markets were higher, the cautious move in oil prices and relatively muted decline in Treasury yields suggest investors remain somewhat skeptical about an immediate end to the war.
