[New York Stock Exchange] First Peace Talks on the 11th... All Three Major Indexes Surge to Close Sharply Higher

International Oil Prices Plummet Below $100
Airline Stocks Soar to Strong Gains
Top Market Cap Stocks Also Rise

On April 8, all three major U.S. stock indices surged, as news broke that the United States and Iran would hold their first ceasefire talks on April 11 (local time). With discussions for an end-of-war meeting progressing rapidly on the first day of the truce, international oil prices plunged, and investor sentiment toward risk assets appeared to strengthen.

According to the home trading system (HTS) on this day, on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 47,909.92, up 1,325.46 points (2.85%) from the previous trading session. The large-cap focused S&P 500 index rose by 165.96 points (2.51%) to 6,782.81, while the technology-heavy Nasdaq index soared by 617.146 points (2.80%) to close at 22,634.995.

On the same day, U.S. White House spokesperson Caroline Levitt stated during a briefing, "Vice President J.D. Vance, Special Envoy to the Middle East Steve Witkoff, and Jared Kushner, among others, will lead the negotiation team dispatched to the Islamabad talks this weekend," adding, "The first meeting is scheduled for Saturday morning (April 11, local time), and we are looking forward to an in-person discussion."

The market cheered as the United States and Iran agreed to a two-week truce and the announcement of end-of-war talks followed. International oil prices reacted first. On the New York Mercantile Exchange, West Texas Intermediate (WTI) crude oil for May delivery fell by more than 16% from the previous session, closing at $94.41 per barrel. This marks the largest single-day drop since April 2020. Brent crude for June delivery on the ICE Futures Exchange also plunged by about 13% to finish at $94.75 per barrel.

Refining and energy stocks all tumbled. ExxonMobil dropped by 4.91%, Chevron by 4.24%, Occidental Petroleum by 5.23%, Diamondback Energy by 4.62%, and APA by 10.15%. In contrast, airline stocks soared. Delta climbed 4.36%, American Airlines 5.63%, and United Airlines 7.85%, all closing with sharp gains.

Jay Woods, chief market strategist at Freedom Capital Markets, commented, "The announcement that tensions with Iran have temporarily halted is not particularly surprising. The market has become much more adept at predicting President Trump's next moves," adding, "Now, the key question is whether this familiar 'two-week' period will actually lead to a resolution."

When President Donald Trump posted on social media, "The United States will work with Iran to remove all deeply buried nuclear dust," and stated, "Many of the 15 items have already been agreed upon," the markets extended their rally.

However, uncertainty surrounding the Strait of Hormuz still remains. Iran's Fars News Agency reported that, following Israel's attack on Lebanon, tanker traffic through the Strait of Hormuz has been suspended. Mohammad Bagher Ghalibaf, Speaker of Iran's Parliament, also criticized on social media that the United States had already violated the two-week ceasefire agreement.

Steve Turkwood, director at Modern Wealth Management, analyzed, "This rally has bolstered optimism that the stock market has finally found a bottom after last month's steep decline, but many believe volatility is far from over, given how sensitive the market remains to geopolitical news."

He added, "Nothing ever rises in a straight line," but also noted, "We believe we have established a solid foundation."

On this day, major financial stocks also surged: Morgan Stanley rose 4.54%, Blackstone climbed 4.38%, and Goldman Sachs jumped 4.73%. Micron Technology leapt 7.37%.

Other large-cap stocks also showed a strong upward trend. Nvidia rose 2.07%, Apple 2.10%, Microsoft 0.46%, Amazon 3.42%, Alphabet 3.74%, and Meta 6.55%, all posting notable gains.

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