On March 31, 2026, the S&P 500 Index rose by 1.02%, the Dow Jones Industrial Average increased by 0.67%, and the Nasdaq 100 Index was up 1.10%. This surge in stock indexes is attributed to a Wall Street Journal report indicating that President Trump is open to ending the U.S. military campaign against Iran, even with the Strait of Hormuz closed, thereby easing geopolitical tensions.
In economic news, the Conference Board’s U.S. March consumer confidence index unexpectedly increased to 91.8, surpassing expectations, while the March MNI Chicago PMI decreased to 52.8, below forecasts. The U.S. January S&P Case-Shiller home price index saw a year-over-year rise of 1.18%, lower than the expected 1.38%, marking the smallest increase in 2.5 years. Meanwhile, February JOLTS job openings fell by 358,000 to 6.882 million, missing expectations.
Crude oil prices climbed to a three-week high, supported by ongoing geopolitical concerns in the Strait of Hormuz, which is critical for global oil transport. Analysts from Goldman Sachs warned that if the closure persists, oil prices could surpass 2008 highs of nearly $150 per barrel. On the other hand, bond yields fell, with the 10-year T-note yield dropping to 4.30%, aiding stock market gains.
