Wall Street, global markets surge after US-Iran cease-fire sends oil prices below $100 a barrel
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Wall Street and global markets surged after the US and Iran agreed to a two-week cease-fire, causing oil prices to plummet below $100 a barrel. The cease-fire has eased concerns about inflation and led to a rise in stock prices, particularly in the airline sector.
Wall Street surged in premarket trading as oil prices plunged. Futures for the S&P 500 jumped 2.7% and futures for the Dow Jones Industrial Average climbed 2.6%. The US and Iran agreed to a two-week cease-fire, reopening the Strait of Hormuz. Oil prices dropped, with US crude falling to $94.52 a barrel and Brent crude to $93.73 a barrel. The cease-fire has eased concerns about inflation, leading to a rise in stock prices. Major US airline stocks soared, with Delta and United jumping over 12%.
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