Update: US Equity Indexes Jump as Washington's Strikes to Prevent Iran From Controlling Hormuz Drive Crude Oil Lower
(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.) US equity indexes rose as Washington's move to degrade Iran's ability to control the Strait of Hormuz by attacking commercial ships transiting the critical waterway sent crude oil prices lower, setting the stage for investors to refocus on technology. The Nasdaq Composite advanced 1.3% to 26,206.89, the S&P 500 climbed 0.8% to 7,543.64, and the Dow Jones Industrial Average marched 0.3% higher to 52,487.41 on Thursday. Technology and consumer discretionary led the gainers, while consumer staples and energy paced the decliners. US Central Command has hit 170 Iranian military targets over the past two nights after Tehran attacked three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows. On Wednesday, before the second round of 90 strikes, US Vice President JD Vance said: "If Iran tries to close the strait down, there's going to be a response [from] the American military. That's the deal." The renewed tension is expected to be relatively short-lived because practical economic and political realities inhibit both.
(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.) US equity indexes rose as Washington's move to degrade Iran's ability to control the Strait of Hormuz by attacking commercial ships transiting the critical waterway sent crude oil prices lower, setting the stage for investors to refocus on technology.
The Nasdaq Composite advanced 1.3% to 26,206.89, the S&P 500 climbed 0.8% to 7,543.64, and the Dow Jones Industrial Average marched 0.3% higher to 52,487.41 on Thursday.
Technology and consumer discretionary led the gainers, while consumer staples and energy paced the decliners.
US Central Command has hit 170 Iranian military targets over the past two nights after Tehran attacked three commercial ships transiting the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.
On Wednesday, before the second round of 90 strikes, US Vice President JD Vance said: "If Iran tries to close the strait down, there's going to be a response [from] the American military.
That's the deal." The renewed tension is expected to be relatively short-lived because practical economic and political realities inhibit both.