Major US stock indices edged higher on Tuesday as crude oil declined after reports of fresh efforts to ease the Middle East turmoil. Investor sentiments were also boosted by strong bank earnings.
At the open, the Dow Jones Industrial Average rose 53.8 points, or 0.11%, to 48,272.03. The S&P 500 rose 24.0 points, or 0.35%, to 6,910.2, while the Nasdaq Composite rose 147.8 points, or 0.64%, to 23,331.501.
Pakistan is facilitating a second round of diplomatic peace negotiations between Iran and the United States, according to senior Pakistani sources cited by AFP.
Global oil prices declined as investors speculated on a potential ceasefire extension or a definitive peace accord.
Major financial institutions JPMorgan Chase, Citigroup, and Wells Fargo reported increased quarterly profits, highlighting robust US consumer resilience despite escalating geopolitical tensions.
Meanwhile, the International Monetary Fund lowered its 2026 economic growth projections, citing the continued impact of Middle Eastern conflict.
“The market is a forward-looking mechanism and, right now, the market is pricing in that the war is over,” said Adam Sarhan of 50 Park Investments.
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