Business
U.S. Stocks Jump, Oil Drops After Bessent Says Iran Deal Could Be Close
Stocks are rallying amid strong earnings and comments by Treasury Secretary Scott Bessent that a deal with Iran to reopen the Strait of Hormuz could come “today or tomorrow.”
The Dow industrials jumped 1,000 points, trading in record territory for the second straight day. The S&P 500 rose nearly 2% and is also poised to hit a record. The Nadsaq composite surged more than 2%.
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