Wall Street rejoiced at Trump’s surprise announcement

On Wall Street, the main stock indices continued to rise strongly, although the rate of increase slowed down at the end of the trading day. The markets are digesting the latest developments in the Iran war.

The Dow Jones, which follows industrial companies, advanced by 1.4 percent, the broad S&P 500 index by 1.2 percent and the technology-focused Nasdaq by 1.4 percent. The Russell 2000 stock index, which tracks small companies, gained 2.3 percent.

US stocks received support from the president on Monday Donald Trump’s on the announcement that military strikes on Iran’s power plants and energy infrastructure will be postponed for five days.

According to Trump, it is possible that the United States will reach an agreement with Iran in the coming days. Trump spoke at an event in Memphis.

“I think there’s a very good chance we’ll get a deal. We’ll give it five days and then see where it goes,” Trump said.

The president said earlier that his administration has been negotiating with the Iranians to end the war. However, Iran has denied the talks and claimed that Trump is talking about the talks to lower oil prices.

Oil prices fell on Monday. At the time of the review, the price of Brent oil was down by more than nine percent at around USD 96 per barrel. The price of US WTI oil was also down by more than nine percent at just over $88 per barrel.

“It all depends on whether the de-escalation becomes reality or is rhetoric. If there is a credible path to de-escalation, oil prices are likely to continue to fall and act as a catalyst for a broader market recovery,” writes the asset management company of the DeVere Group manager Nigel Green According to investment media Barron’s.