Wall Street Climbs as Trump Opts a New Sanction on Iran over Military Action

Stocks in Wall Street climbed overnight after the U.S. President Donald Trump gave investors a breathing room by choosing to opt for a new economic sanction on Iran over taking military actions.

“Iran appears to be standing down, which is a good thing for all parties concerned,” Trump said in a speech last night following Iran’s strikes on an air base housing US troops in Iraq.
“The fact that we have this great military and equipment, however, does not mean we have to use it,” added the U.S. president.

As hopes for an alternative ending other than war rose, so did the stock market. The S&P 500 gained 0.48%, while Nasdaq increased 0.67% and Dow Jones climbed 0.56%.

On the other hand, the rising hopes had pressured oil prices by 5% while keeping energy stocks in red.