Stocks Rally as Trump Pledges No Iran Strike; Dow Jumps 423 Points
IXIC sits 32% above its 52-week low of $20,690.249.
Summary
U.S. stocks closed sharply higher after President Trump said the U.S. would not strike Iran before the midterm elections, easing fears of Middle East escalation. The Dow gained 423 points to 51,654.95, the S&P 500 rose 0.59% to 7,811.54 near all-time highs, and the Nasdaq climbed 0.64% to 27,366.17. Oil edged up 0.4% to $91.85 a barrel, but Trump's announcement that Russia would sell diesel to the U.S. helped temper energy concerns. Treasury yields stayed near recent highs with the 10-year at 5.243%. Separately, Trump said he is convening a White House committee to review mortgage fraud allegations against Fed governor Lisa Cook, with a hearing set for Nov. 5.
At the time of this announcement, IXIC was trading at $27,366.17 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.