[New York Stock Exchange] All Major Indexes Surge Over 2% on Two-Week Ceasefire... WTI Plunges 17%

Airline Stocks Soar on Ceasefire News
All Top Market Cap Stocks on the Rise

On April 8 (local time), the three major U.S. stock indexes surged simultaneously following the news that the United States and Iran would enter into a two-week ceasefire. The ceasefire, which began on the condition of the reopening of the Strait of Hormuz, led to a sharp decline in international oil prices and boosted investor sentiment toward risk assets.

According to the home trading system (HTS) at 10:05 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (Dow) was up 13,317.40 points, or 2.84%, from the previous session, standing at 47,908.69. The S&P 500 Index, which focuses on large-cap stocks, rose by 156.00 points (2.38%) to 6,774.16, while the tech-heavy Nasdaq Index soared 621.654 points (2.82%) to 22,638.339.

The previous day, U.S. President Donald Trump announced that he would halt attacks on Iran in response to the Pakistani Prime Minister's request for a two-week ceasefire. He posted on Truth Social, "I have agreed to suspend bombing and attacks on Iran for two weeks," and added, "I have received a 10-point proposal from Iran, which I believe forms a viable basis for negotiations." He further stated that the ceasefire on both sides is conditional upon Iran agreeing to reopen the Strait of Hormuz.

The Iranian foreign minister also stated that they agreed to reopen the strait for two weeks on the condition that all attacks would cease. However, he added that transit through the strait would require consultation with the Iranian military.

Although the reopening of the Strait of Hormuz is not immediate, investor sentiment appears to have improved on expectations that the energy supply crisis will soon be resolved. Stock markets are soaring while international oil prices are plunging.

At this time, on the New York Mercantile Exchange, West Texas Intermediate (WTI) crude oil for May delivery is trading at $92.74 per barrel, a steep drop of 17.74% from the previous session. Brent crude for June delivery on the ICE Futures Exchange is also plunging 15.62% to $92.21 per barrel.

Jay Woods, Chief Market Strategist at Freedom Capital Markets, commented, "The announcement of a temporary halt in tensions with Iran was not entirely surprising," adding, "The key issue now is whether the 'two-week' period will actually lead to a resolution."

Oil and energy stocks are falling across the board. ExxonMobil is down 6.14%, Chevron down 5.45%, Occidental Petroleum down 7.53%, Diamondback Energy down 5.69%, and APA down 10.50%. In contrast, airline stocks are soaring on the news of the ceasefire, with Delta up 8.62%, American Airlines up 8.93%, and United Airlines up 13.00%.

Top market cap stocks are also posting sharp gains. Nvidia is up 2.53%, Apple up 1.99%, Microsoft up 1.90%, Amazon up 2.90%, Alphabet up 3.54%, and Meta up 4.21%.

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