[New York Stock Exchange] 'Confrontation Is Meaningless'... Three Major Indexes Close Higher on Easing War Fears

International Oil Prices Close Lower Across the Board
Refining and Energy Stocks Fall

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

As U.S. President Donald Trump announced a forthcoming address to the nation regarding the Iran war, Iranian President Masoud Pezeshkian also shared an open letter. On April 1 (local time), the three major U.S. stock indices closed higher.

At the New York Stock Exchange (NYSE) on this day, the Dow Jones Industrial Average finished at 46,565.74, up 224.23 points (0.48%) from the previous trading day. The S&P 500 index, which focuses on large-cap stocks, rose 46.80 points (0.72%) to close at 6,575.32, while the tech-heavy Nasdaq index jumped 250.319 points (1.16%) to 21,840.947.

Investor sentiment that the Iran war may soon come to an end propelled the indices. President Pezeshkian’s open letter contributed to this sentiment. In his letter addressed to the American public, he stated that “the world is at a critical crossroads,” adding, “Continuing down the path of confrontation is more costly and meaningless than ever before.” He further emphasized, “The people of Iran hold no hostility toward the citizens of any nation, including those of the United States, Europe, and neighboring countries.”

In the market, this was interpreted as Iran expressing distrust toward the United States, but also seeking an end to the war through negotiations. Patrick Ryan, Chief Investment Strategist at Madison Investments, commented, “It seems the market senses some form of resolution could emerge over the next few weeks.”

International oil prices also declined. West Texas Intermediate (WTI) crude futures closed at $100.12 per barrel, down 1.24% from the previous session, while Brent crude futures finished at $101.16 per barrel, down 2.7% from the previous session.

Oil refining stocks saw a sharp decline. ExxonMobil fell by 5.30%, while Chevron dropped 4.72%. Other energy stocks were also down, with Occidental Petroleum declining 4.47%, Diamondback Energy 3.72%, and APA 2.53%.

In contrast, airline stocks continued their upward momentum from the previous day. Delta rose 1.70%, American Airlines gained 3.82%, and United Airlines climbed 3.40%.

Today’s gains were smaller than those of the previous session. This has been interpreted as a reflection of the continued differences between the two countries, after President Trump claimed before the market opened that “Iran has requested a ceasefire with the U.S.,” which was then denied by Iran. Chief Investment Strategist Ryan predicted that unless there is an announcement that “the situation is fully resolved,” volatility is likely to persist in the short term.

Most technology stocks continued to rise from the previous day. Notable gains included Nvidia up 0.76%, Apple up 0.71%, Amazon up 1.11%, Alphabet up 3.44%, Tesla up 2.54%, and Meta up 1.27%.

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