Wall Street stock indices opened higher on Tuesday as President Donald Trump announced a ceasefire between Israel and Iran.
At the opening bell, the Dow Jones Industrial Average rose 225.3 points, or 0.53%, to 42,807.13. The S&P 500 rose 36.0 points, or 0.60%, to 6,061.21, while the Nasdaq Composite rose 178.6 points, or 0.91%, to 19,809.615.
A day after Tehran struck at a US base in Qatar, US President Donald Trump said that the truce between Iran and Israel was in effect. The move came after US carried airstrikes on Iranian nuclear facilities.
In a congressional testimony, US Federal Reserve Chair Jerome Powell emphasized that the central bank can afford to wait for the impact of tariffs before deciding on further interest rate cuts.
Bullion
Gold prices fell on Tuesday after President Trump’s announcement of a ceasefire between Israel and Iran diminished bullion’s demand.
Spot gold lost 1.4% at $3,322.09 an ounce, as of 1142 GMT. US gold futures slipped 1.7% to $3,336.00.
Spot silver eased 0.1% to $36.10 per ounce, platinum rose 1% to $1,307.93, while palladium slipped 0.4% to $1,072.24.
