The Dow settled firmly lower on Tuesday despite an upbeat batch of earnings reports, with investors concerned a peace deal between the U.S. and Iran will not come to fruition before the ceasefire expires on Wednesday. Vice President JD Vance's trip to discuss an end to the war is reportedly on hold due to Tehran's lack of commitment, while President Donald Trump said the U.S. military is “ready” to bomb Iran if there's no agreement.
The Nasdaq and S&P 500 settled lower as well, the former brushing off Amazon.com's (AMZN) $25 billion investment in AI startup Anthropic. Investors also dismissed better-than-expected retail sales data for March, while oil prices continued to skyrocket amid supply concerns.
Oil Prices Extend Gains Ahead of Ceasefire Deadline
Oil prices continued to charge higher, with the U.S.-Iran ceasefire deadline in focus. May-dated West Texas Intermediate (WTI) added roughly 3% to finish at $92.13 per barrel.
Gold prices slipped amid a stronger greenback, the possibility of peace talks between the U.S. and Iran, and the Senate confirmation hearing for Fed Chair nominee Warsh. June-dated gold fell 0.7% to settle at $4,797.90 an ounce.
Comments
Log in or sign up to join the conversation.