business / news / / The Straits Times
S&P 500 shot above its 200-day moving average for the first time since mid-March.
A two-week US-Iran ceasefire brokered by Pakistan triggered a global stock market relief rally.
KEY POINTS
- 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
Summarized by Newsio from The Straits Times. How we summarize →