[New York Stock Market] "War Nearing Conclusion"... All Indexes End Higher as Prolonged Conflict Fears Ease

Oil Prices Rebound on Trump Interview
All Major Indexes in New York Close Higher

As concerns over rising international oil prices subsided following U.S. President Donald Trump’s statement that the Iran war is nearing its end, all three major indices of the New York Stock Exchange closed higher on March 9 (local time).

On this day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average finished at 47,740.80, up 239.25 points (0.50%) from the previous trading day. The S&P 500, which focuses on large-cap stocks, rose by 55.97 points (0.83%), while the tech-heavy Nasdaq gained 308.267 points (1.38%), with both indices closing higher.

New York Stock Exchange exterior. Photo by UPI Yonhap News

The New York stock market responded sensitively to President Trump’s interview. In an interview with CBS News, President Trump stated, “I think the war is nearing its end,” adding that the progress of the war is “much, much” ahead of the originally expected timeline.

Specifically, regarding the Strait of Hormuz—the key international oil shipping route—he said, “We can do a lot of things” and noted that the U.S. is still considering options to take control of the Strait of Hormuz.

The previous day, international oil prices surpassed $100 per barrel due to the possibility of a prolonged war in Iran, which heightened risk aversion sentiment among investors. However, President Trump’s suggestion of an imminent end to the war within a single day is interpreted as having restored investor confidence.

Additionally, following a joint statement by the finance ministers of the Group of Seven (G7) that they would discuss measures such as releasing strategic oil reserves in response to the sharp rise in oil prices, international oil prices rose further, fueling appetite for risk assets.

As a result, the price of West Texas Intermediate (WTI) crude for April delivery closed at $94.77 per barrel, up $3.87 (4.26%) from the previous session. The price of Brent crude futures on the London ICE Futures Exchange ended at $98.96 per barrel, up $6.27 (6.8%) from the previous session.

Carol Schleif, a representative of BMO Private Wealth, commented, “As the conflict unfolds this week, we expect the market to remain short-term oriented, highly volatile, and driven by headlines.”

Oil stocks, which had posted modest gains during the session, ended the day lower across the board. ExxonMobil fell by 1.09%, while Chevron declined by 1.36%. Defense stocks also dropped on news signaling the war’s end was near, with AeroVironment down 1.44%, Lockheed Martin down 1.55%, RTX down 0.93%, and Northrop Grumman down 2.13%.

In contrast, airline stocks, which had been under pressure, closed higher: Delta Air Lines rose 2.69%, American Airlines gained 2.24%, and United Airlines climbed 2.66%.

John Luke Tyner, Head of Fixed Income at Aptus Capital, stated, “It seems the situation is improving,” adding, “If there are no serious issues at major infrastructure facilities, oil prices will soon normalize to between $65 and $75 per barrel—a level that should be satisfactory for everyone.”

Tech stocks, which had shown weakness during the session, managed to rebound across the board. Nvidia surged 2.31%, Apple rose 0.83%, Microsoft gained 0.14%, TSMC jumped 3.93%, Alphabet A climbed 2.56%, Broadcom soared 4.39%, and Meta rose 0.18%.

Anthony Saglimbene, a representative at Ameriprise, analyzed, “Volatility may feel uncomfortable and could increase further, possibly leading to a short-term drop in stock prices, but when volatility reaches extreme levels, it tends to be short-lived.”

This content was produced with the assistance of AI translation services.