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      Stocks Rally Toward Record Highs, Oil Crashes 7% As Iran Talks Show Progress: What's Moving Markets Tuesday?

      U.S. stocks pushed back toward pre-war highs Tuesday, with the S&P 500 reclaiming the 6,960 level and small caps leading a broad-based advance as investors cheered fresh signs of progress in U.S.-Iran negotiations that sent crude oil tumbling nearly 7%.

      • What’s driving XLY shares up?

      President Donald Trump fanned the de-escalation narrative in a midday interview with the New York Post, telling the paper that Iran talks “could be happening over the next two days” in Pakistan. The fresh Trump comments built on Vice President JD Vance‘s flagged “a lot of progress” in weekend talks with Iranian officials held in Islamabad.

      On the macro front, producer inflation came in sharply below expectations in March, cooling inflationary concerns.

      The S&P 500 rose 1.1% to 6,960, its highest level since late February, now trading at a striking distance from the 7,002-point all-time high reached in late January.

      The Dow Jones Industrial Average climbed 347 points, or 0.7%, to 48,565. The Nasdaq 100 outperformed, advancing 1.5% to 25,776, on pace for its 10th straight session of gains — the longest streak since 2021.

      Within Magnificent Seven stocks, Meta Platforms Inc. (NASDAQ:META) jumped 4.6%, Tesla Inc. (NASDAQ:TSLA) rose 3.9%, Amazon.com Inc. (NASDAQ:AMZN) gained 3.6% and NVIDIA Corp. (NASDAQ:NVDA) added 2.7%, while Apple Inc. (NASDAQ:AAPL) stock initially slipped, but recovered slightly.

      The Russell 2000 led the major benchmarks with a 1.4% pop to 2,708, extending its rebound off March lows to 12%.

      Oil was the biggest casualty of the de-escalation trade. WTI crude collapsed 6.7% to roughly $92.46 a barrel, handing back most of the war premium built up over recent weeks, while ...

      Full story available on Benzinga.com


      Source: Benzinga
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