"Reports that filtered out of the media that Iran had backchannelled the CIA, looking for ways to end the current conflict, were all that was needed to flip the futures around before the open, and what started slow built to a solid buying respite amid what has been a tough stretch for stocks."
"The Nasdaq led the charge higher, closing up 1.41% at 22,837, while the red-hot small-cap Russell 2000 closed at 2,639, up 1.19%. The S&P 500 closed at 6,876, up 0.89%, and the Dow Jones Industrials wrapped up a welcome, stellar mid-week session."
"After two days of relentless selling driven by a strong dollar, the war, and other issues, buyers stepped in, and yields across the entire Treasury curve fell, with the middle maturities attracting the most interest. The 30-year bond closed at 4.72%, while the benchmark 10-year note was last seen at 4.09%."
Stock markets rallied Wednesday following reports of Iran-CIA backchannel communications regarding conflict resolution. The Nasdaq gained 1.41% to 22,837, Russell 2000 rose 1.19% to 2,639, and S&P 500 increased 0.89% to 6,876. Treasury yields declined across the curve after two days of selling, with the 10-year note at 4.09% and 30-year bond at 4.72%. Oil prices remained elevated with Brent Crude at $81.76 and WTI at $75.28, while natural gas fell 4.29% to $2.93 due to warm temperatures. Gold and silver rebounded modestly, closing at $5,136 and $83.27 respectively. Cryptocurrency markets recovered with Bitcoin surpassing $73,000.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]