Stocks rally, oil prices fall after U.S. sends Iran a peace plan
NBC News
U.S. stocks rose Wednesday and global oil prices fell, as traders and investors were buffeted by constant headlines about the war in Iran.
U.S. stocks rose Wednesday and global oil prices fell in yet another volatile trading session, as traders and investors were buffeted by constant headlines about the war in Iran.
On Tuesday night, reports surfaced that the U.S. had sent Iran a 15-point peace plan, which sparked hopes that the Trump administration was moving to end its monthlong war against Iran. Two regional sources and a U.S. official confirmed to NBC News on Wednesday that the plan had been sent.
Initially, S&P 500 and Nasdaq 100 futures rose more than 1%.
On Wednesday morning however, unconfirmed reports from Iranian media, which cited an anonymous source, said that Tehran would not accept a ceasefire or hold talks with the United States. The reports briefly knocked index futures off their pre-market highs and lifted oil prices off their early morning lows.
Despite the apparent setback, stocks opened the trading day higher. The S&P 500 index rose about 1%, the Nasdaq Composite rose 1.2% and the Dow jumped 575 points. The Russell 2000 rose about 0.5%.
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