Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are up by over 2% on Tuesday after the U.S. and Iran showed signs of moving toward ending the war.
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New trading tool for QQQ bullsPresident Trump communicated to aides that he is willing to end military operations against Iran, even if the Strait of Hormuz remains mostly closed, according to the Wall Street Journal. Restoring access to the passageway may take longer than the initial four- to six-week timeline, and Trump is looking to shift responsibility to U.S. allies in Europe and the Gulf, officials familiar with the matter said.
Iran Signals Willingness for Peace Deal
On the other side, Iranian President Masoud Pezeshkian said that Iran has the “necessary will” to end the war, although any resolution must include guarantees against future attacks.
Meanwhile, China and Pakistan proposed peace terms that include an immediate ceasefire and the reopening of the strait. It’s unclear whether the U.S. and Iran will accept the terms, although Trump said he is confident an agreement will be reached soon.
Elsewhere, U.S. consumer confidence has been surprisingly resilient. The Consumer Confidence Index increased by 0.8 points to 91.8 in March, surpassing the consensus estimate of 87.9.