U.S. stocks rallied sharply on Thursday after President Donald Trump said the United States was close to reaching an agreement with Iran and had called off planned military strikes. The announcement eased fears of a wider conflict in the Middle East, helping push the Dow Jones Industrial Average up nearly 930 points, while the S&P 500 and Nasdaq also posted strong gains.
Investors welcomed signs that tensions could be cooling. Trump said a deal preventing Iran from obtaining nuclear weapons was close to completion, while confirming that planned attacks had been cancelled. As concerns over supply disruptions faded, oil prices dropped, with both Brent crude and West Texas Intermediate falling by nearly 3%. Lower energy prices also helped calm worries about inflation and its impact on the economy.
Technology stocks led the market higher, particularly semiconductor companies. Shares of Advanced Micro Devices, Intel and Micron Technology rebounded strongly, lifting the broader chip sector after several days of losses. Investors are also watching the upcoming IPO of SpaceX, which is expected to be the largest public listing in history and could renew enthusiasm around AI and technology investments.
Despite fresh inflation data showing producer prices rose more than expected, markets focused on the prospect of easing geopolitical risks and continued strength in the U.S. economy. The combination of falling oil prices, improving sentiment and a rebound in technology shares helped drive one of the market’s strongest sessions in recent weeks.
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