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The Dow surges 1,300 in worldwide rally as oil plunges toward USD 90 following ceasefire with Iran
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....he Dow surges 1,300 in worldwide rally as oil plunges toward USD 90 following ceasefire with Iran<BR>Customs & Trade<BR>Dated:- 8-4-2026<BR>PTI<BR>New York, Apr 8 (AP) Stock markets are surging worldwide, and oil prices are plunging back toward USD 90 per barrel after President Donald Trump pulled back from his threat to force a “whole civilization” to die in the war with Iran. The S&P 500 ....
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....leaped 2.6 per cent after Trump, Iran and Israel agreed to a two-week ceasefire, just hours before a deadline Trump had set for Iran to open the Strait of Hormuz and allow oil to flow freely again from the Persian Gulf to customers worldwide. The Dow Jones Industrial Average was up 1,383 points, or 3 per cent, as of 9:35 am Eastern time, and the Nasdaq composite was 3.3 per cent higher followin....
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....g even bigger gains in European and Asian stock markets. To be sure, stock prices are still below where they were before the war. And oil prices are still higher because the threat remains that the war could continue and keep oil produced in the Persian Gulf area blocked in the Middle East. The average price for a gallon of regular gasoline has already topped USD 4.16 in the United States, a....
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....ccording to AAA. That's up from less than USD 3 a couple days before the United States and Israel launched attacks to begin the war in late February. If oil prices stay high for a long time, it would push up the price of nearly everything that's moved by truck, plane or boat. “There is a reason to be optimistic, but it is still too early to tell, because, as you know, after all, it is Trump,....
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.... said Takashi Hiroki, chief strategist at MONEX. So far in the war, Trump has set several deadlines for Iran to open the Strait of Hormuz and has threatened big repercussions if Iran doesn't, only to delay them. It's similar to a year ago, when Trump initially threatened stiff tariffs on imports from other countries on “Liberation Day.” After a couple delays, his administration eventua....
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....lly negotiated lower tariffs with many countries, though they were still higher than from before his second term. With uncertainty still remaining, “the mood remains one of cautious optimism rather than outright celebration,” said Tim Waterer, chief market analyst at KCM Trade. “The ceasefire is only two weeks long, and markets will be watching closely to see whether shipping through t....
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....he Strait of Hormuz normalises as promised and whether the fragile truce can pave the way for a more durable peace agreement.” Still, financial markets made big moves following the ceasefire announcement. The price for a barrel of benchmark US crude oil plunged 17.5 per cent to USD 93.15. Brent crude, the international standard, tumbled 16.6 per cent to USD 91.11. It had briefly topped USD 1....
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....19 when worries about the war with Iran were at their highest. In Asia, where countries are more reliant on oil from the Middle East, South Korea's Kospi stock index surged 6.9 per cent. Japan's Nikkei 225 leaped 5.4 per cent, and Hong Kong's Hang Seng jumped 3.1 per cent. European stock indexes rose nearly as much, with Germany's DAX returning 5.2 per cent and France's CAC 40 rising 4.9 per....
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.... cent. On Wall Street, companies with big fuel bills roared back to trim some of the sharp losses taken on worries about oil prices staying high. United Airlines soared 13.7 per cent, for example, which would count as a decent year for the stock. It cut into its loss for the year that came into the day at 20.1 per cent. Delta Air Lines climbed 11 per cent after it also reported a stronger....
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.... profit for the latest quarter than analysts expected. Norwegian Cruise Line Holding steamed 11.9 per cent higher to trim into its 16.1 per cent loss for the year so far. In the bond market, Treasury yields eased as worries about high inflation and oil prices ebbed. The yield on the 10-year Treasury fell to 4.25 per cent from 4.33 per cent late Tuesday. That's a notable move for the bond mar....
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....ket, and lower Treasury yields give a boost to prices for stocks, bonds and all kinds of other investments. The drop should also help ease some of the quick recent rise in rates for mortgages and other loans taken out by US households and businesses, which have been slowing the economy. (AP) GSP =============<BR> News - Press release - PIB....