Gold posted huge gains overnight because investors were looking for safer assets. Crude oil prices rose in fear that a war could reduce global supplies, and the futures market showed a huge collapse in US stocks as soon as the session on Wall Street began.
But sales ceased as reports emerged that no American died in the Iranian offensive and the Iranian Foreign Minister said his country had concluded “proportional measures in self-defense.”
When the session began, the S&P 500 had a slight increase and tripled its profits after President Donald Trump confirmed that there were no wounded Americans and that Iran “seems to have placated.”
Trump said he would impose new economic sanctions on Iran, but also stated that the United States is “ready to make peace with everyone who aspires to it.” That was enough to meet market hopes that there would be no more military escalations, at least for now.
Not only did the titles soar, but oil prices plummeted and gold fell for the first time in 11 days.
The S&P 500 added 15.87 units, or 0.5%, to 3,253.05. He gained up to 0.9% during the session and seemed to be heading to a record high, but lost momentum in the last half hour of operations.
The Dow Jones industrial average gained 161.41 points, or 0.6%, to 28,745.09. The Nasdaq compound reached an all-time high by climbing 60.66 integers, or 0.7%, and parking at 9,129.24.
The US reference crude reached $ 65.65 per barrel during nighttime operations, when global supply concerns reached their highest point. But prices fell during the day, accelerating after a report by the US government revealed that oil reserves rose the previous week.
The US reference crude lost $ 3.09, or 4.9%, to $ 59.61 per barrel in New York. The Brent mix, international benchmark, yielded $ 2.83, or 4.1%, to $ 65.44 per barrel.
Gold had a similar behavior. After reaching $ 1,604.20 per ounce, the day ended at $ 1,557.40, a drop of $ 14.40.
The 10-year Treasury bond yield closed at 1.87%, an increase from 1.82% in the previous session.
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