The S&P 500 Index rose by 0.52%, and the Dow Jones Industrial Average increased by 0.43% on optimism surrounding the potential conclusion of the Middle East conflict. This comes after President Trump indicated the U.S. may end the war with Iran within two to three weeks, with Iran reportedly requesting a ceasefire. Crude oil prices also fell by over 2%, reflecting hopes for stabilizing situations in the region.
Key economic indicators released today showed stronger-than-expected results: the U.S. ADP employment change for March reported a gain of 62,000 jobs, surpassing forecasts of 40,000, while February retail sales increased by 0.6%, exceeding the 0.5% estimate. Conversely, U.S. mortgage applications dropped 10.4% for the week ending March 27, alongside a rise in fixed mortgage rate to a seven-month high of 6.57%.
Internationally, European markets were buoyant, with the Euro Stoxx 50 up 2.48% and Japan’s Nikkei 225 gaining 5.24%. Additionally, the Eurozone’s March manufacturing PMI improved to 51.6, indicating continued growth.
