President Donald Trump confirmed the diplomatic push with a post on Truth Social earlier this morning, indicating an end to the Epic Fury operation and the highly effective Blockade that will now allow the Hormuz Strait to be open to all, if Iran agrees to the terms of the deal.
Crude tumbled on the headlines, with WTI sinking 6.6% to $95.48 a barrel and Brent falling 6.9% to $102.33. The energy unwind erased much of the war-risk premium built into the curve over recent weeks, with WTI now down nearly 16% month-to-date.
The S&P 500 climbed 1% to 7,332, on track for a fresh closing record, while the Dow Jones Industrial Average advanced 518 points, or 1.1%, to 49,816. Within Dow components, Walt Disney Co. (NYSE:DIS) jumped 8% after a strong revenue print, while NVIDIA Corp. (NASDAQ:NVDA) rallied 4.5% to $205, dragged higher by sector peers’ AI capex commentary.
The Nasdaq 100 outperformed with a 1.2% gain to 28,353, propelled by an AI-infrastructure surge.
Semiconductor names exploded higher on a one-two punch of earnings beats from Advanced Micro Devices Inc. (NASDAQ:AMD) and Super Micro Computer Inc. (NASDAQ:SMCI), both rallying 16%. AMD soared after beating estimates and raising guidance on what management characterized as soaring data-center demand, while Super Micro rallied on a strong earnings beat tied to AI server orders.
Gold rallied 2.9% to $4,690 an ounce, finding a bid as real yields slipped, while the SPDR Gold Trust (NYSE:GLD) climbed in tandem. Silver outpaced the yellow metal, jumping 6% to $77.18.
Wednesday’s Performance In Major U.S. Indices
Index
Last
% Change
S&P 500
7,332.86
+1%
Dow Jones
49,816
+1.1%
Nasdaq 100
28,353
+1.2%
Russell 2000
2,868.53
+0.8%
