Stock market rises as Iran de-escalation lifts Dow
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- US stock futures for the S&P 500, Nasdaq 100, and Dow all rose 0.7% following a powerful Q1 rally.
- President Trump indicated a shift in US posture, discussing ending the war even if the Strait of Hormuz remains closed, and will deliver a speech Wednesday at 9pm Washington time.
- Iranian President Masoud Pezeshkian expressed openness to de-escalation under certain conditions, stating Iran has "the necessary will to end this war."
- Iran’s Islamic Revolutionary Guard Corps (IRGC) had threatened attacks on US tech companies like Nvidia, Apple (AAPL), and Microsoft (MSFT) for Wednesday at 10am ET.
- Brent crude (BZ=F) fell over 2.9% to $104 per barrel, while US benchmark West Texas Intermediate crude (CL=F) dropped before paring losses, as stocks rose.
- US retail sales in February rose 0.6% from the prior month, topping Wall Street forecasts of 0.5%, and increased 3.7% year-on-year.
- Private companies added 62,000 jobs in March, according to ADP data, exceeding expectations despite a slight month-over-month decline.
Why it matters: The Dow, S&P 500, and Nasdaq futures climbed 0.7%, signaling investor confidence in de-escalation talks.
