NEW YORK: Wall Street stocks rose early Tuesday (Apr 14), extending an upward climb on optimism about a resolution of the US-Iran war as American banks reported higher earnings.
The International Monetary Fund trimmed its 2026 growth forecast due to the conflict in the Middle East, but markets remained focused on hopes for a breakthrough on negotiations.
Pakistan is working to bring Iran and the United States together for a second round of talks, senior Pakistani sources told AFP.
About five minutes into Tuesday trading, the Dow Jones Industrial Average was up 0.1 per cent at 48,243.91.
The broad-based S&P 500 gained 0.3 per cent to 6,909.91, while the tech-rich Nasdaq Composite Index advanced 1.0 per cent to 23,410.44.
Oil prices retreated amid speculation that a ceasefire could be extended or a peace accord reached.
“The market is a forward-looking mechanism and, right now, the market is pricing in that the war is over,” said Adam Sarhan of 50 Park Investments.
Large banks JPMorgan Chase, Citigroup and Wells Fargo all reported higher quarterly profits, pointing to continued resilience among US consumers despite increased geopolitical uncertainty.
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