U.S. stocks staged a sharp comeback Thursday, with major indexes climbing on reports that a deal could be reached to ease tensions in the Middle East and get crude oil flowing more freely worldwide.
According to WJTV, the rally marked the market's best day in roughly two months, fueled by hopes for an agreement that would help global oil supplies move more freely.
The optimism centered on the prospect of a peace deal. According to MSN's market coverage, the Dow Jones Industrial Average popped following reports of a signed U.S.-Iran peace deal. Investopedia reported that stocks rose in early trading on Thursday, the final session of a holiday-shortened week, clawing back some of the previous day's losses and putting the indexes on track for a winning week.
That earlier weakness, according to Investopedia, had been driven by the Federal Reserve, with stocks rebounding from a rate-fueled sell-off the day before.
Individual names moved too. Investopedia reported that Intel led a chip-stock rally, while SpaceX fell. MSN noted that Intel, SanDisk and Teradyne shares rallied, and that Moderna broke out past a buy point.
Why it matters: news of a possible U.S.-Iran peace deal could ease one of the biggest sources of uncertainty hanging over global oil supplies, and Thursday's broad rebound shows just how quickly that prospect can ripple through the markets that shape ordinary investors' retirement and savings accounts.