Stocks kicked off the first day of April and the second quarter with strong gains, the Dow and S&P 500 etching triple-digit pops. The S&P 500 settled higher as well on the heels of higher-than-expected retail sales data for March and comments from President Donald Trump that suggested the U.S.-Iran war could be over soon, should the Strait of Hormuz reopen. Traders are now eyeing more updates from Trump, who will deliver an address at 9 p.m. ET regarding the conflict.
Gold Nabs 4th-Straight Daily Gain
Oil prices cooled off on Wednesday, after President Trump indicated the U.S.-Iran war could end within weeks. Front-month May-dated West Texas Intermediate (WTI) crude fell 1.2%, or $1.26, to finish at $100.12 per barrel.
A weaker U.S. dollar contributed to higher gold prices, which marked a fourth-straight gain for the safe haven. April-dated gold futures added 2.9% to finish at $4,813.10 an ounce for the day.
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