Dow Closes Up 263 Points on Hopes for Progress in US-Iran Talks
MacroGeopolitics
US stocks closed mixed, with the Dow ending at 54,349.12, up 263.24 points or 0.49%, on hopes for progress in talks between the United States and Iran. The S&P 500 closed at 7,723.55, down 12.97 points or 0.17%, and the Nasdaq finished at 26,363.44, down 221.55 points or 0.83%, pressured by technology shares and earnings. European markets closed slightly higher, with the Stoxx 600 index ending at 657.14, up 0.28 points or 0.04%, hitting a new record high on strong corporate earnings. Asian markets opened lower this morning. Japan's Nikkei opened at 65,896.00, down 404.44 points or 0.61%. Hong Kong's Hang Seng opened at 25,667.14, down 248.68 points or 0.95%. China's Shanghai Composite opened at 3,864.27, down 14.16 points or 0.37%, on profit-taking after a sharp rally yesterday. Investors are also closely watching the situation between Iran and the United States after President Donald Trump said the US is close to reaching a deal with Iran on opening the Strait of Hormuz and ensuring maritime safety.
