Trump sent Wall Street into a strong upswing

Stock prices on Wall Street accelerated to a strong rise on Thursday.

The president was behind the rise Donald Trump’s adthat he has canceled the planned attacks on Iran. According to Trump, an agreement between the two sides is close, raising investors’ hopes that the war could be ending.

“Since the discussions with the Islamic Republic of Iran have been taken to the highest level of the Iranian leadership and approved, I, as President of the United States of America, have canceled tonight’s planned strikes and bombings against Iran,” Trump said on his Truth Social channel.

The S&P 500, which broadly tracks large companies, advanced 1.8 percent. The technology-focused Nasdaq gained 2.5 percent. The flagship Dow Jones index rose 1.9 percent.

The price of oil fell. The price of US WTI crude fell to around $86 a barrel, dispelling inflationary pressures and lowering bond yields. The price of Brent reference quality fell to around $89 per barrel.

“The road to a solution is likely to be bumpy, but our basic assumption is that diplomacy will eventually win out. This will allow investors to focus on strong economic fundamentals and solid earnings growth in the US and Europe,” says UBS:n investment director of the asset management unit Ulrike Hoffmann-Burchardi for the news agency Bloomberg.

Investors are also preparing for the billionaire Elon Musk’s space and artificial intelligence company SpaceX:n for stock exchange listing. The company’s IPO starts on Friday, and it is considered a significant test of the demand for companies related to artificial intelligence. Both are expected to go public later this year Anthropicia that Open AI:ta.

SpaceX told on Thursday that it has floated 555.6 million shares at $135 each. The initial public offering is about 75 billion dollars, which is far more than an oil company Saudi Aramcon $29.4 billion in IPOs in 2019.

SpaceX’s market capitalization is now $1,770 billion. The diluted value, which takes stock options into account, will rise to 1,800 billion dollars, the news agency Bloomberg reports.

This puts the company among the world’s most valuable listed companies and makes its founder Musk possibly the world’s first billionaire.

About the tech giants Nvidia increased by 2.2 percent, Broadcom 3.6 percent and Amazon 1.5 percent. Apple advanced 1.4 percent, Google’s parent company Alphabet 0.4 percent and Tesla 4.6 percent.

Microsoft fell by 1.8 percent. Meta decreased by 0.5 percent.

Network equipment manufacturer on the New York Stock Exchange Nokia strengthened by 5.2 percent. Nokia’s depository receipt or ADR is listed on the New York Stock Exchange.