US Stocks Surge on Hopes of War End
2026-03-31 17:03
By
Andre Joaquim
1 min. read
US stocks surged after Iranian President Pezeshkian said he was open to ending the war with the US, Israel, and GCC members under conditions.
The S&P 500 and the Nasdaq 100 gained nearly 3%, while the Dow jumped 1,000 points.
The development would match Washington's attempts to de-escalate the conflict following the suspension of attacks by President Trump, aiming to restore flows of tankers through the Strait of Hormuz and halt the surge in energy prices.
Benchmark crude oil and product prices were still set to surge in March following the halt of trade through the chokepoint and the destruction of energy infrastructure, which had spurred bets of a hawkish reaction by the Federal Reserve.
Risk sensitive tech companies were sharply higher after underperforming last session, with Meta jumping 3% while Microsoft, Nvidia, and Amazon gained up to 5%.
Also, Eli Lilly rose 3% after acquiring Centessa for $7.8 billion.
Lastly, McCormick sank 7% on its union with Unilever's food arm.