NEW YORK: Wall Street stocks held steady near records as oil prices retreated on hopes for a US-Iran agreement to end the war in the Middle East.
The United States is waiting for Iran to respond to its latest proposed deal to end the war and reopen the Strait of Hormuz, a key waterway in petroleum transport.
Both the S&P 500 and Nasdaq finished at records Wednesday after US President Donald Trump said a deal with Iran was “very possible,” but threatened more bombing if negotiations collapse.
Read original at Business Recorder
Markets are being very optimistic about a Middle East peace deal. Not convinced personally, there’s too much at stake geopolitically. But let’s hope for peace.