The stock market party continues on Wall Street – Noushuuma did not catch on to Nokia

Stocks rose on Wall Street and oil prices fell as hopes for a deal between the United States and Iran strengthened. The price of Brent reference quality was around USD 102 per barrel.

President Donald Trump’s that the United States has had “good talks” with Iranian negotiators and that the country has agreed not to acquire nuclear weapons.

“They can’t get nuclear weapons. They’ve agreed to that, among other things,” Trump said at the White House, according to the Wall Street Journal.

On the other hand, Trump has also said that the United States will continue bombing if Iran does not agree to the terms.

The market expects the conflict that started at the end of February and overshadowed the economic outlook to end soon. US Ambassador to Israel and former Deputy Secretary of Defense for Middle East Affairs Daniel Shapiro estimates that Trump wants to get the Iran deal done before his visit to China next week.

The United States has given Iran a memorandum, according to which the Strait of Hormuz would be opened to sea traffic and the blockade of Iranian ports would be lifted gradually. Iran is expected to respond to the proposal through Pakistan, acting as a mediator, in the coming days, the news agency Bloomberg reports.

The S&P 500, which tracks large companies, rose 1.5 percent to 7,365.12 points. The technology-focused Nasdaq advanced two percent. Both of them exceeded their closing records set yesterday on Tuesday.

The flagship company index Dow Jones strengthened by 1.2 percent and the Russell 2000 index, which tracks small companies, rose by 1.5 percent.

“We are on the way to de-escalation and the end of the conflict. As long as the outlook is optimistic, investors’ desire to take risks will remain”, assesses The Pepperstone market analyst Michael Brown Bloombergille.

Technology companies were on a strong rise. Good results yesterday and the chip company that gave the instructions AMD increased by 18.6 percent. Market leader in artificial intelligence chips Nvidia strengthened by 5.8 percent.

Electric car manufacturer Tesla increased by 2.4 percent. A software company Microsoft strengthened by 0.6 percent, the social media company Meta 1.3 percent and Google’s parent company Alphabet 2.5 percent. E-commerce and cloud service company Amazon advanced 0.5 percent and the Iphone manufacturer Apple 1.2 percent.

The market sentiment was also supported by strong employment figures. In April, US companies hired the most new employees in more than a year, suggesting that the labor market is stabilizing.

Network equipment manufacturer on the New York Stock Exchange Nokia decreased by 1.7 percent. Nokia’s depository receipt or ADR is listed on the New York Stock Exchange.