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S&P 500 posts fourth winning day, rising on hopes for last-minute Iran ceasefire: Live updates
The S&P 500 rose on Monday for a fourth session as oil prices teetered and traders hoped that the U.S.-Iran war could end soon.
The broad market index added 0.44% to close at 6,611.83, while the Nasdaq Composite gained 0.54% and ended at 21,996.34. The Dow Jones Industrial Average climbed about 165.21 points, or 0.36%, to settle at 46,669.88.
Axios reported that the U.S., Iran, and a group of regional mediators were discussing terms for a potential 45-day ceasefire that could lead to a permanent end to the war, though the chances for reaching a partial deal before the Tuesday deadline were slim. To be sure, a 45-day ceasefire is just one of the many ideas being floated.
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Stock market today: Dow, S&P 500, Nasdaq gain ahead of Trump deadline for Iran deal
US stocks rose on Monday amid cautious hopes for a deescalation in Middle East hostilities, which remained the market's main catalyst, ahead of President Trump's deadline for an Iran deal.
The S&P 500 (^GSPC) rose 0.4%, while the Dow Jones Industrial Average (^DJI) gained 0.3%. The tech-heavy Nasdaq Composite (^IXIC) added 0.5%.
Stocks recouped the overnight losses that followed renewed threats from President Trump extending a deadline to Tuesday at 8 p.m. ET, warning that failure to reach a deal would trigger attacks on bridges and power infrastructure.
Reports of diplomatic moves revived optimism for a ceasefire and an end to the blockade of the Strait of Hormuz, which risks stoking inflation. Iran and the US have received a plan for an end to attacks from Pakistan, Reuters reported. The two sides and international mediators are making a last-ditch push for a 45-day halt, per Axios.
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