NEW YORK (AP) — U.S. stocks are climbing, and oil prices are falling Thursday after President Donald Trump called off his threat to bomb Iran in the evening.
The S&P 500 jumped 1.3%, coming off a back-to-back drop that had yanked it back to where it was in early May. The Dow Jones Industrial Average was up 802 points, or 1.6%, as of 2 p.m. Eastern time, and the Nasdaq composite was 1.8% higher.
Stocks leaped immediately after Trump said on his social media network that "discussions with the Islamic Republic of Iran have been brought to the highest level of Iranian leadership and approved" and that the time and place of a signing will "be announced shortly."
