[New York Stock Market] Three Major Indices Surge 2% on Trump’s “Talks with Iran” Comments

International Oil Prices Plunge Nearly 10%

All Major Blue-Chip Stocks Climb Higher

Key Sectors Rise, Including Banks and Airlines

New York Stock Exchange. Photo by Yoonju Hwang

As U.S. President Donald Trump announced that he had held talks with Iran and would halt attacks on Iran's energy infrastructure, all three major U.S. stock indices opened higher on the 23rd (local time). This is interpreted as a reflection of hopes that the Iran war, which had triggered a surge in international oil prices and fears of a global recession, could soon come to an end.

At 10:24 a.m. on the same day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (Dow) was up 1,003.85 points (2.20%) from the previous trading day, standing at 46,581.32. The S&P 500 Index, which focuses on large-cap stocks, rose 137.96 points (2.12%) to 6,644.44, while the Nasdaq Index, centered on tech stocks, gained 511.00 points (2.36%) to 20,159.34.

Before the market opened, President Trump posted on his social media platform Truth Social, saying, "I am pleased to announce that the United States and Iran have had very good and productive talks over the past two days regarding the complete cessation of hostilities in the Middle East."

When Iran denied President Trump's post, President Trump confirmed the facts directly in an interview with Fox Business, stating, "Iranian officials, including Middle East envoy Steve Witkoff and my son-in-law Jared Kushner, held talks last night."

Regarding the Iranian state TV report that no talks were held, President Trump replied, "The U.S. has destroyed much of Iran's infrastructure, making it difficult for them to obtain information. So I don't really know what Iranian state TV is saying."

In particular, before boarding Air Force One (the U.S. presidential aircraft) that day, President Trump told reporters that the U.S. and Iran had reached "key points of agreement" and were scheduled to hold talks with the Iranian leadership later on the 23rd.

He added, "If the talks proceed smoothly, the war could end within five days," but also warned, "If Iran agrees to the deal, that's good. Otherwise, we will continue to bomb them with full force."

Following President Trump's remarks, the price of West Texas Intermediate (WTI) crude oil futures fell more than 9%, dropping to around $88 per barrel. Brent crude, the global oil price benchmark, also fell more than 10% to $100 per barrel.

Jeff Kilburg, CEO of KKM Financial, commented, "The stock market has finally found an exit from the severe uncertainty and oversold conditions caused by the Iran conflict," and added, "If this becomes the foundation for peace in the Middle East, the stock market could reach new all-time highs."

Bank stocks are also all rising. Morgan Stanley is up 3.15%, Blackstone is up 1.02%, and Goldman Sachs is up 3.49%. Airline stocks also saw strong gains for the first time in a while: Delta is up 3.55%, American Airlines is up 4.70%, and United Airlines is up 4.39%.

Stocks with the largest market capitalizations are also all on the rise. Nvidia is up 2.95%, Apple is up 2.00%, Microsoft is up 1.33%, Amazon is up 3.48%, Alphabet is up 1.30%, and Meta is up 2.08%.

Art Hogan, chief market strategist at B. Riley Wealth Management, commented, "The market has been desperately waiting for good news, and on the surface, this seems to be the best news we could hope for," adding, "If there is downward pressure on energy prices, the market could react like a spring looking for a reason to go higher."

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