Traders work on the floor of the New York Stock Exchange (NYSE) as the opening bell rings on March 24, 2026.
Angela Weiss | AFP | Getty Images
Stocks soared Wednesday as oil prices fell and traders hoped the U.S. and Iran would reach a cease-fire deal.
of Dow Jones Industrial Average It rose 305.43 points (0.66%) to close at 46,429.49. of S&P500 It rose 0.54% to 6,591.90. Nasdaq Composite It rose 0.77% to end at 21,929.83.
The Associated Press, citing anonymous officials in Islamabad, reported that Iran had received a 15-point proposal from the United States to end the war. The New York Times first reported that the US had sent a peace plan to Iran. The newspaper, citing two unnamed officials, reported that the plans were delivered via Pakistan.
Iranian state media also reported on Wednesday that the Middle Eastern country would reject the U.S. ceasefire offer, but would instead present a five-point plan that includes granting Iran sea control of the Strait of Hormuz.
These developments have put oil prices under pressure. West Texas Intermediate Futures It fell 2.2% to close at $90.32 per barrel. international brent The stock also fell 2.17% to settle at $102.22. U.S. bond yields also fell due to the impact of oil prices.
Indeed, the two countries seem very far apart. The Wall Street Journal reported that the United States is sending the Army’s 82nd Airborne Division to the Middle East.
President Trump said Tuesday that the United States is “currently negotiating” with Iran. He added that the Iranian government was “reasonable” and suggested it was keen to reach a peace deal.
Stock prices have fluctuated significantly this week due to the war. Markets regained some of their gains from Monday, with all three averages up more than 1% on Tuesday after President Trump wrote in a post on Truth Social that the United States and Iran had “a very good and productive dialogue regarding a complete and complete resolution of hostilities in the Middle East.” However, Iranian state media denied reports of direct talks between the two countries.
“While questions remain about who can rein in Iranian military activity and what will satisfy Israeli interests, the market appears to be willing to move higher from here,” JPMorgan’s trading desk said in a note. “It is also unclear whether Iran will withdraw its previous demands, including security against future aggression and reparations and compensation for losses incurred during this conflict.”
Rising technology stocks supported the overall market on Wednesday. Nvidia, AMD and intel Everyone is jumping.
