A cautious relief swept through financial markets after President Donald Trump said the United States has talked with Iran about a possible end to their war.
Oil prices eased Monday, and stock prices jumped on Wall Street following severe losses taken elsewhere in the world before Trump’s announcement. The S&P 500 rallied 1.1 percent for its best day since the war began. The Dow Jones Industrial Average rose 1.4 percent, and the Nasdaq composite climbed 1.4 percent.
Brent crude fell back below $100 per barrel. But the moves were even sharper in the morning, before Iranian officials denied that talks were underway with the United States.
On Monday:
The S&P 500 rose 74.52 points, or 1.1 percent, to 6,581.00.
The Dow Jones Industrial Average rose 631 points, or 1.4 percent, to 46,208.47.
The Nasdaq composite rose 299.15 points, or 1.4 percent, to 21,946.76.
The Russell 2000 index of smaller companies rose 55.78 points, or 2.3 percent to 2,494.23.
For the year:
The S&P 500 is down 264.50 points, or 3.9 percent.
The Dow is down 1,854.82 points, or 3.9 percent.
The Nasdaq is down 1,295.23 points, or 5.6 percent.
The Russell 2000 is up 12.32 points, or 0.5 percent.
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