On Wednesday, major US stock indexes showed significant gains, with the S&P 500 closing up 0.72%, the Dow Jones Industrial Average up 0.48%, and the Nasdaq 100 up 1.18%. This rally followed optimistic remarks from President Trump, who indicated a potential end to the war in Iran within two to three weeks, coinciding with rising economic indicators, including a March ADP employment increase of 62,000, exceeding the expected 40,000.
Key economic reports also showed February retail sales rose by 0.6% month-over-month, beating expectations of 0.5%, while the March ISM manufacturing index unexpectedly rose to 52.7. In the same period, the average 30-year fixed mortgage rate climbed to a seven-month high of 6.57%, impacting mortgage applications, which dropped by 10.4% for the week ending March 27.
International markets also experienced gains, with the Euro Stoxx 50 climbing 2.93%, China’s Shanghai Composite rising 1.46%, and Japan’s Nikkei 225 up 5.24%. President Trump’s televised address at 9 PM Eastern on Wednesday is anticipated to provide further updates on the situation with Iran.
