[New York Stock Market] Three Major Indexes Rise Despite Iran's Ceasefire Denial... Oil Prices Fall

Trump Claims Iran Requested Ceasefire
Investor Sentiment Lifts Indexes
International Oil Prices Drop Over 2%

New York Stock Exchange. Photo by Yoonjoo Hwang, New York Correspondent

U.S. President Donald Trump claimed before the market opened that Iran had requested a ceasefire, leading all three major U.S. stock indexes to start the session higher on April 1 (local time). Even after Iran denied requesting a ceasefire following the opening, investor sentiment remained strong and continued to push the indexes upward.

According to the home trading system (HTS), as of 11:07 a.m. at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up by 393.41 points (0.85%) to 46,734.91 compared to the previous trading day. The S&P 500 Index, which tracks large-cap stocks, had risen by 63.95 points (0.99%) to 6,594.18. The Nasdaq, focused on technology stocks, had surged by 325.155 points (1.51%) to 21,915.653.

A post President Trump made on social media prior to the opening influenced investor sentiment. On Truth Social, he stated, "Iran has requested a ceasefire from the United States," adding, "We will consider it when the Strait of Hormuz is open, free, and safe." He also warned, "Until then, we will either completely destroy Iran or send it back to the Stone Age."

The previous day, President Trump told reporters at the White House that the U.S. would withdraw from Iran "within two to three weeks." As a result, all three major indexes soared and closed higher.

However, several hours later, the Iranian government denied President Donald Trump's claim that "Iran has requested a ceasefire." Al Jazeera, citing an Iranian official, reported that, from Iran's perspective, a ceasefire would not be helpful. Iran believes a ceasefire would merely give the U.S. and Israel an opportunity to conduct military operations, with the risk that attacks on Iran could recur at any time. From Iran's standpoint, they seek an end to the war, not a ceasefire.

The previous day, Iranian Foreign Minister Abbas Araghchi also said in an interview with Al Jazeera, "It doesn't matter what timeline our enemies set for ending the war. Iran is prepared for at least six months of war," adding, "We advise the U.S. to end this war before it suffers greater damage."

As of now, June delivery Brent crude oil futures are trading at $101.67 per barrel, down 2.22% from the previous session. May delivery West Texas Intermediate (WTI) crude is trading at $99.24 per barrel, a 2.11% decrease from the previous session.

Karen Finerman, CEO of Metropolitan Capital Advisors, commented, "I think oil prices are telling the truth about the current situation. Certainly, they have been oversold, but much of it is just window dressing," and added, "We've reached the end of a really tough quarter, so that might help somewhat, but it's unclear if the effect will last."

Meanwhile, President Trump announced that he would deliver a national address regarding the Iran war at 9:00 p.m. (U.S. Eastern Time) on this day.

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