The S&P 500 Index ($SPX) (SPY) today is up +0.77%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.98%. June E-mini S&P futures (ESM26) are up +0.73%, and June E-mini Nasdaq futures (NQM26) are up +0.92%.
Stock indexes are rallying today, with the S&P 500 at a 1.5-month high, the Dow Jones Industrial Average at a 5-week high, and the Nasdaq 100 at a 2.25-month high. Optimism that the US and Iran will extend the two-week ceasefire has knocked crude oil prices sharply lower and pushed stocks higher. Reuters reported today that the US and Iran are considering negotiations to extend a two-week ceasefire that expires on April 22, and that they could resume talks this week in Pakistan. There are also reports that Iran might pause shipments through the Strait of Hormuz to avoid sparking an incident with the US military. The news knocked crude oil prices down by more than -5%.
