Financial Markets Wall Street

Stocks rushed higher worldwide, and oil prices eased as hopes built that the war with Iran could end soon. That’s even though some of the signals investors saw as hopeful on Wednesday are already under dispute. The S&P 500 rose 0.7% and added to its leap from the day before, which was its best since last spring. That followed even bigger gains for markets across Europe and Asia, including an 8.4% surge in South Korea, which were catching up to Wall Street’s rally from Tuesday. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq composite jumped 1.2%.

Stocks overcame early losses to finish with slim gains and close out their first winning week since the start of the Iran war. Oil prices remained elevated, however, having soared after a national address late Wednesday from President Donald Trump, where he vowed the U.S. will continue to attack Iran and failed to offer a clear timetable for ending the conflict in the Middle East. A barrel of U.S. crude oil rose to $111.54. Tesla shares fell more than 5% after its deliveries for the first quarter fell short of estimates. Stock markets will be closed for Good Friday.