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Stocks rose on Tuesday as after a new report offered investors hope that the U.S.-Iran war could soon come to an end.
The Dow Jones Industrials index popped 477.79 points, or 1.1%, to 45,689.93
The S&P 500 index recovered 100.52 points, or 1.6%, to 6,444,24,
The NASDAQ revived 449.62 points, or 2.2%, to 21,236.92.
Tuesday marks the final day of the month. The S&P 500 is down 7.8% in March. If that decline holds, it would be the benchmark’s worst monthly performance since September 2022 — when it plunged 9.3%.
The Wall Street Journal reported that President Donald Trump had told aides he was willing to end military hostilities in the Middle East even if the Strait of Hormuz remained largely shut.
Technology, which has been under pressure since the conflict began, rose broadly. Nvidia climbed 1%, and Microsoft advanced 2%.
Still, crude prices remained higher after Bloomberg reported that Iran struck a Kuwaiti oil tanker in Dubai waters. The Dubai government’s media office said in a post on X that no injuries were reported and that “the safety of all 24 crew members has been secured.”
Prices for the 10-year Treasury gained, lowering yields to 4.32% from Monday’s 4.34%. Treasury prices and yields move in opposite directions.
Oil prices docked 44 cents to $102.44 U.S. a barrel.
Gold prices gained $80.60 to $4,606.60 U.S. an ounce.
