The US stock markets showed significant gains on Wednesday. By the close in New York, the Dow Jones Index had increased by 1.2%, reaching 49,911 points. Meanwhile, the broader S&P 500 was up 1.5%, sitting at around 7,365 points, and the technology-heavy Nasdaq 100 climbed 2.1% to approximately 28,599 points.
Market participants remained optimistic despite a change in immediate developments. Although the markets initially reacted positively to the US Navy escorting commercial vessels through the Strait of Hormuz (dubbed “Project Freedom”), this operation was later paused by President Donald Trump. Underlying this positive mood was a report indicating the US viewed an imminent conclusion of negotiations with the Iranian regime as likely. Furthermore, unexpectedly strong quarterly earnings reports from chip manufacturers bolstered hopes for a continued boom in Artificial Intelligence.
In currency markets, the Euro strengthened on Wednesday evening, costing $1.1750, meaning the dollar could be purchased for €0.8511.
Precious metals experienced a strong rally; the gold price climbed by 3.1%, reaching $4,697 for a fine ounce, equivalent to €128.51 per gram.
In sharp contrast, oil prices dropped significantly. The North Sea grade Brent crude futures fell by 10.5%, costing $98.33 per barrel, a reduction equivalent to 1,154 cents from the previous day’s close.
