Wall Street rallies, markets respond positively to signs of Iran breakthrough
US stocks rallied on Thursday after President Donald Trump said a deal with Iran was close and suggested the conflict could soon come to an end.
The Dow Jones Industrial Average rose 1.75 percent, while the Nasdaq Composite gained 2.54 percent as investors responded positively to the prospect of reduced geopolitical tensions.
Market analysts said hopes of a diplomatic breakthrough were helping lift sentiment.
“It’s another day when the war is about to end, according to the administration. That drove the market up,” Rick Meckler, a partner at Cherry Lane Investments in New Jersey, told Reuters.
Meckler added that the conflict’s impact on energy prices and inflation remained the market’s biggest concern, and that an end to the fighting would be viewed as a significant positive for investors.
