Beirut: Major US stock indexes opened higher on Monday after Washington and Tehran reached a preliminary agreement to end the war in the Middle East and reopen the Strait of Hormuz. The Dow Jones Industrial Average rose 162.3 points, or 0.32 percent, to 51,364.55. The S and P 500 gained 85.3 points, or 1.15 percent, at the open to reach 7,516.75. The Nasdaq Composite advanced 558.4 points, or 2.16 percent, to 26,447.23.
According to Qatar News Agency, the agreement between the US and Iran has led to a positive response from investors, resulting in a boost in the stock market. The reopening of the Strait of Hormuz is expected to ease tensions in the region and ensure the smooth flow of oil, which has been a significant concern for the global economy. The preliminary agreement marks a crucial step towards stability in the Middle East, influencing investor confidence and market dynamics.
The rise in major stock indexes indicates a renewed optimism among market participants, who are closely monitoring developments in the US-Iran relationship. The potential resolution of the conflict and the assurance of open trade routes have been pivotal in driving the upward trend in stock prices. As negotiations progress, investors remain hopeful for a lasting peace agreement that could further bolster economic conditions and market performance.