U.S. stocks rallied on Thursday, driven by optimism surrounding a two-week ceasefire between the United States and Iran. All three major indexes—Dow Jones Industrial Average, S&P 500, and Nasdaq—closed in positive territory, with the Dow rising 0.6% to 48,185.80 points, the S&P 500 increasing 0.6% to 6,824.66 points, and the Nasdaq gaining 0.8% to finish at 22,822.42 points.
The Dow gained 275.88 points, while the S&P 500 saw consumer discretionary stocks lead the gains. Notably, 254 new 52-week highs were recorded on the NYSE, compared to 83 new lows. In oil markets, West Texas Intermediate futures closed at $97.87 per barrel, reflecting a 3% increase, amidst regional tensions and ISraeli-Lebanese negotiations.
Meanwhile, economic data revealed a mixed bag, with personal consumption expenditures (PCE) rising 0.4% sequentially in February, aligning with expectations. Jobless claims increased by 16,000 to 219,000 for the week ending April 4. Nationwide, 17 billion shares were traded, lower than the 20-session average of 19.38 billion.
