US-Iran War-End Agreement Lifts Stocks at New York Open
Summary
- Reports that the United States and Iran had reached a war-end agreement sent all three major New York stock indexes higher at the open on June 15.
- Major Wall Street indexes rose after oil prices tumbled on a preliminary deal to end the war in the Middle East and reopen the Strait of Hormuz.
- The United States and Iran agreed to an MOU covering the reopening of the Strait of Hormuz, the lifting of the U.S. maritime blockade, and 60 days of additional talks, with signing set for June 19 in Switzerland.
Forecast Trend Report by Period
U.S. stocks opened higher on June 15 after the United States and Iran reached an agreement to end the war.
Reuters reported that as of 9:33 a.m., the Dow Jones Industrial Average had risen 569.90 points, or 1.17%, to 51,799.16 on the New York Stock Exchange.
The S&P 500 opened 85.3 points, or 1.15%, higher at 7,516.75, while the Nasdaq Composite started trading up 558.4 points, or 2.16%, at 26,447.23.
Major Wall Street indexes advanced after oil prices plunged on a preliminary agreement to end the war in the Middle East and reopen the Strait of Hormuz, Reuters said.
The memorandum of understanding reached by the United States and Iran calls for reopening the Strait of Hormuz, lifting the U.S. maritime blockade and holding an additional 60 days of talks. The MOU is scheduled to be signed in Switzerland on June 19.
Park Su-rim, Hankyung.com reporter paksr365@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
