Stocks moved into the stratosphere Wednesday after U.S. President Donald Trump suspended attacks on Iran for two weeks, pausing a five-week conflict that closed a crucial waterway for global energy supplies.
The Dow Jones Industrials rocketed 1,326.33 points, or 2.9%, to 47,910.79.
The S&P 500 prospered 165.96 points, or 2.5%, to 6,782.81.
The NASDAQ spiked 617.15 points, or 2.8%, to 22,635.
Broadcom was higher by more than 5%. Micron Technology gained more than 7%.
On the other hand, energy stocks that have surged since the start of the conflict faltered. Shares of Exxon Mobil slid more than 5%, while Chevron fell more than 4%.
Prices for the 10-year Treasury moved higher, lowering yields to 4.30% from Tuesday’s 4.32%. Treasury prices and yields move in opposite directions.
Oil prices let go of $16.82 to $96.13 U.S. a barrel.
Gold prices climbed $69.70 to $4,754.4.60 U.S. an ounce.
