Kamal Ghorui
US stocks moved higher on Tuesday, as investors remained optimistic over a possible extension of the US-Iran ceasefire. Markets showed early strength, with the Dow Jones Industrial Average rising 0.56% or 279 points to 49,721.56 around 8 pm IST. The S&P 500 inched up 0.2% to 7,129, while the Nasdaq Composite gained 96 points or 0.4% to reach 24,500. As trading progressed, the upward momentum strengthened, with the Dow climbing 397 points, or 0.8%, and the S&P 500 adding 0.2%, putting it within reach of another record high. The Nasdaq remained modestly higher. Investor sentiment was shaped in part by developments in the Middle East. Oil prices, which had surged a day earlier amid renewed disruption to the Strait of Hormuz, eased on Tuesday. Brent crude slipped 0.7%% to $94.78 per barrel ahead of the expected expiry of a two-week ceasefire between the United States and Iran. The conflict has driven sharp swings in oil markets, with prices ranging from about $70 before the war to peaks of $119 as concerns over a prolonged closure of the key shipping route intensified. Economic data released during the session pointed to continued resilience in consumer activity. US retail sales rose 1.7% from the previous month to $752.1 billion, beating expectations, largely due to higher petrol prices. Spending remained relatively steady even when excluding gasoline sales, indicating broader stability in consumption during the first full month of the conflict. Global markets presented a mixed picture, with European indices trading unevenly after a stronger performance in Asia, where South Korea’s Kospi index jumped 2.7%. In the bond market, US Treasury yields edged higher, with the 10-year yield ticking up to 4.27% from 4.26% the previous day. Attention is also turning to Washington, where Kevin Warsh, nominated by US President Donald Trump to lead the Federal Reserve, is scheduled to testify before Congress later in the day. Investors are expected to closely watch his remarks for indications on interest rate policy and the central bank’s independence.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
