Stock Market Today: Dow, S&P 500, Nasdaq Rebound as Oil Prices Reverse on US-Iran Peace Deal Hopes

💡 The US stock market bounced back on hopes of a US-Iran peace deal as oil prices reversed course.

The US stock market saw a rebound on Wednesday as hopes of a US-Iran peace deal sparked a surge in oil prices. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite Index all rose, with the Dow adding 250 points to close at 34,600. The S&P 500 gained 1.5% to reach 4,200, while the Nasdaq Composite Index rose 2.2% to 14,500.

Stock Market Rebound

The rebound in the stock market was led by technology stocks, with $NVDA gaining 3% and $MSFT rising 2.5%. The 10-year Treasury yield fell to 4.2% as investors sought safer assets, driving down the price of $TLT by 1.5%.

Oil Prices Reverse

The sudden reversal in oil prices came as news broke of a possible US-Iran peace deal. $WTI crude oil prices fell by 5% to $65 per barrel, while $Brent oil prices dropped by 4.5% to $70 per barrel.

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