After opening clearly lower, Wall Street ended in positive territory this Monday, driven by statements by President Donald J. Trump who assured that the war with Iran is “practically finished”“.
At the close of the New York Stock Exchange, the Dow Jones gained 0.50%, the Nasdaq index advanced 1.38% and the expanded S&P 500 index rose 0.83%.
At the start of the session, the three star indices had fallen by more than 1%.
In Asia, due to the large time difference, the stock markets closed with heavy losses and the Seoul market, which this year had had a solid performance due to its technology companies, ended this Monday with a fall of 5.96%, while the Tokyo market fell 5.2%.
Strong declines were also recorded in the stock markets of Hong Kong, Shanghai, Taipei, Sydney, Singapore, Manila and Wellington.
Oil prices
The expected rise in oil prices above $100 per barrel due to the damage in the Strait of Hormuz today impacted the markets, fearful of a prolongation of the war in the Middle East.
Oil prices rose above $100 per barrel for the first time since 2022, when the start of the war in Ukraine generated a sharp rise. However, there was not the uproar now because the offensive was ordered by President Donald J. Trump.
US President Donald Trump on Sunday dismissed the rise in crude oil prices as a “small price to pay” for eliminating the “threat” of Iran’s nuclear program.
G7 Finance Ministers are “ready” to use strategic oil reserves to alleviate the rise in crude oil prices resulting from the war in the Middle East.
According to French Finance Minister Roland Lescure, the G7 is “not there yet” when it comes to the possible release of strategic oil reserves.
“What we have agreed is to use any necessary tools, if necessary, to stabilize the market, including the possible release of necessary reserves,” the senior official said.
