Highlights
Stocks recovered on Wednesday after President Trump late Tuesday extended a ceasefire to allow Iran's leaders to come up with a unified proposal to end the war. The Dow Jones industrial average gained 0.7 percent, the S&P 500 rose 1.1 percent, and the Nasdaq advanced 1.6 percent. Bond yields were flat to higher, the dollar rose, and oil futures prices rose.
The closure of the Strait of Hormuz continued and Iran and the US both seized tankers belonging to the other side. Big technology stocks were mostly better as traders bought the dip from Monday and Tuesday. Tesla shares edged up ahead of its earnings result due late Wednesday.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.