# S&P 500 shot above its 200-day moving average for the first time since mid-March.

*business · news · 2026-04-08 · The Straits Times*

## Key points

- A two-week US-Iran ceasefire brokered by Pakistan triggered a global stock market relief rally.
- The Strait of Hormuz may reopen as early as April 9 or 10 if ceasefire terms are agreed.
- WTI and Brent crude futures fell over 13%, both settling below $100 per barrel after the ceasefire.
- US Federal Reserve minutes revealed increased openness to rate hikes due to war-driven inflation concerns.
- Industrials led S&P 500 sector gains, while energy stocks dropped 3.7% amid falling oil prices.

**Companies:** Delta Air Lines, Southwest Airlines, United Airlines, Carnival, Norwegian Cruise Line, Levi Strauss
**Countries:** United States, Iran, Pakistan

[Read the full story on The Straits Times](https://www.straitstimes.com/business/companies-markets/wall-street-ends-sharply-higher-on-us-iran-ceasefire)

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