US Stocks Advance on Middle East Peace Hopes

U.S. stocks advanced on April 9, driven by ongoing negotiations for a peaceful resolution to the six-week Middle East conflict, which eased concerns over the fragile truce between the United States and Iran. All three major U.S. stock indexes, including the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite, gained ground. Israel's pursuit of talks with Lebanon further contributed to positive market sentiment. Crude oil prices, specifically West Texas Intermediate, seesawed but settled higher as markets awaited Iran's potential reopening of the Strait of Hormuz. The VIX, a 'fear index,' dipped to its lowest point since the war began, indicating reduced market anxiety. Economic reports from the United States — United States Department of Commerce revealed slower-than-expected GDP growth and elevated consumer prices in the fourth quarter. Minutes from the United States — Federal Reserve's meeting indicated policymakers are considering interest rate hikes to counter inflation from a prolonged Iran war. In corporate news, Amazon (company) shares rose significantly after CEO Andy Jassy announced its AI services are generating over $15 billion in annualized revenue. Constellation Brands also saw its shares jump after reporting a smaller-than-expected drop in sales, while Applied Digital shares fell due to a widened net loss.