Wall Street closed sharply higher on Wednesday as a last-minute two-week ceasefire between the United States and Iran lifted investor sentiment. The temporary truce, brokered by Pakistan, provided relief after weeks of geopolitical tension that had disrupted oil supplies and triggered inflation fears.
Major indexes opened with strong gains:
Dow Jones Industrial Average: +1,326.33 points (+2.85%) to 47,910.79
S&P 500: +165.98 points (+2.51%) to 6,782.83
Nasdaq Composite: +617.15 points (+2.80%) to 22,635.00
Sector performance was led by industrials, with eight of the 11 S&P 500 sectors rising more than 2%. Energy was the only declining sector, down 3.7% amid falling oil prices. Key winners included commercial airlines (+5.7%), travel and entertainment (+5.2%), and home construction (+4.9%).
Major tech stocks continued to rally: Intel gained 10%, Meta rose more than 8%, AMD climbed 5%, and Google advanced over 4%. Delta Air Lines rebounded 3.8% despite disappointing second-quarter guidance.
The ceasefire raises hopes for the possible reopening of the strategic Strait of Hormuz, which transports one-fifth of the world’s oil. An Iranian official indicated it could reopen Thursday or Friday if peace talks yield an agreement framework.
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