On Wall Street, stock indexes rose for the second day in a row on Tuesday, attributed to investors’ hope that the US and Iran will soon reach a peace agreement, but also to good quarterly business results from companies.
The Dow Jones index rose by 0.66 percent, to 48,535 points, the S&P 500 by 1.18 percent, to 6,967 points, and the Nasdaq by 1.96 percent, to 23,639 points.
According to Hina, investors were encouraged by US President Donald Trump’s message that negotiations on ending the war with Iran could continue these days, after the failure of negotiations last Saturday in Islamabad prompted Washington to impose a blockade on Iranian ports.
Pakistani and Iranian officials also said US and Iranian representatives could return to talks in Pakistan later this week.
The truce would also mean the reopening of the Strait of Hormuz, a key passage for the export of oil from the Middle East, so the prices of “black gold” fell significantly below the level of 100 dollars per barrel yesterday. This eased investors’ fears of rising inflation and had a positive impact on the capital markets.
Thanks to yesterday’s growth, the S&P 500 index made up for all losses since the start of the US-Israeli attack on Iran and approached the record level reached at the end of February.
The market was also positively affected by the good start of the quarterly results announcement season of American companies and banks. Financial giants such as BlackRock, Citigroup, JPMorgan and Wells Fargo released reports yesterday.
