Stocks on Wall Street surged on Wednesday (May 6), with the S&P 500 and Nasdaq reaching record highs.
The Dow Jones Industrial Average came close to the 50,000-point mark, closing up 612 points at 49,910. The S&P 500 gained 105 points to close at 7,365, and the Nasdaq rose 512 points to 25,838.
It comes as eyes remain fixated on the war in Iran. The U.S. and Iran are reportedly closing in on a memorandum that’s aimed at ending the fighting.
President Trump is striking an optimistic tone over ending the war in Iran. In his latest comments following reports of a deal on the table, Trump told reporters from the White House on Wednesday that there have been “very good talks” in the past 24-hours.
Iran’s foreign ministry spokesman confirmed his government was reviewing the U.S. plan — a reported “one-page memorandum of understanding” — that sets a framework to end the war and start negotiations on Iran’s nuclear program. The news sent stocks surging and the price of oil plunging, but it didn’t halt the rise of gas in the U.S., which jumped past $4.50 a gallon today.
Recent Comments