U.S. stock markets saw strong gains on Wednesday. By the close in New York, the Dow Jones was calculated at 47.910 points, marking a 2.9 percent increase from the previous trading day. Shortly before, the broader S&P 500 was up 2.5 percent with approximately 6,783 points, while the technology-focused Nasdaq 100 reached around 24,903 points, up 2.9 percent by that time.
The markets reacted positively to the announced two-week ceasefire between the United States and Iran. However, the Strait of Hormuz remains blocked. Iranian Foreign Minister Abbas Araghtschi used the platform X, referencing a tweet by Pakistani Prime Minister Shehbaz Sharif that declared the truce, stating, “The conditions for a ceasefire between Iran and the US are clear and absolute: The US must make a decision-either a ceasefire or the continuation of war through Israel. Both are not feasible”. Araghtschi specifically demanded an end to Israeli strikes in Lebanon, writing that the world is witnessing the massacres in Lebanon, and now the US must act, with the world watching to see if they will uphold their commitments. The US has once again urged Iran to open the Strait of Hormuz. Furthermore, US President Donald Trump and Israeli Prime Minister Benjamin Netanyahu dispute that Lebanon is included in the cease-fire agreement.
In currency movements, the European common currency strengthened on Wednesday evening, with one Euro costing 1.1662 US dollars, and consequently, one dollar trading for 0.8575 Euros.
Meanwhile, the price of gold benefited, reaching $4,726 per fine ounce in the evening, which represents a 0.5 percent gain and translates to a price of 130.29 Euros per gram.
Oil prices, by contrast, fell significantly. At around 10 PM Central European Time on Wednesday, a barrel of Brent crude from the North Sea cost $95.97, marking a substantial decline of 12.2 percent compared to the end of the previous trading day.
