U.S. Equities Bounce Back Amid Tensions
(MENAFN) American share markets finished higher on Monday as market participants appeared to start rebounding from the initial jolt caused by the Israel Iran hostilities.
The benchmark Dow Jones Industrial Average advanced 0.75 percent, adding 317.30 points to settle at 42,515.09.
The tech heavy Nasdaq Composite jumped 1.52 percent to conclude at 19,701.21, while the broad based S&P 500 climbed 0.94 percent to 6,033.11.
Friction in the Middle East has intensified since Friday after Israel carried out synchronized air raids on several targets inside Iran—among them military and nuclear installations—triggering counter attacks from Tehran.
The confrontation roiled international markets, driving Brent crude up roughly 11 percent and sending bullion above the USD3,450 mark.
Even as the Iran Israel clashes persisted, markets found some relief when Iran refrained from shutting the Strait of Hormuz, defying earlier forecasts; benchmark oil futures even pulled back 2.27 percent on Monday, underpinning sentiment.
According to Israeli officials, Iranian missile strikes since Friday have left no fewer than 24 dead and hundreds wounded.
Tehran, for its part, reported that Israeli bombardments have claimed at least 224 lives and injured more than 1,000 individuals.
Meanwhile, US President Donald Trump offered upbeat comments on his trade agenda, asserting that a pact with Canada is "achievable."
He noted that the two neighbors remain split on which "concept" should resolve their trade quarrel, adding that the American and Canadian teams would strive to "get to the bottom of it today."
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
