US indexes close higher for fourth straight session

US stocks closed higher on April 6, marking gains for the fourth straight session, supported by hopes that Washington and Tehran may soon reach a truce, despite US President Donald Trump escalating military threats after Iran rejected a de-escalation proposal.

The Dow Jones Industrial Average climbed 0.36%, or 165 points, to close at 46,669 points.

The S&P 500 gained 0.44%, or 29 points, to end at 6,611 points, recording gains for the fourth session in a row. The Nasdaq Composite rose 0.54%, or 117 points, to 21,996 points.

On the other side of the Atlantic, stock exchanges in the Eurozone and the UK were closed for the Easter public holiday.

Japan’s Nikkei added 0.55% to 53,413 points, while the broader Topix index remained unchanged at 3,644 points.

Oil prices increased, with Brent crude futures for June delivery advancing 0.68%, or $0.74, to $109.77 per barrel, after climbing to $111.89 earlier in the session.

Meanwhile, WTI crude for May delivery rose 0.78%, or $0.87, to $112.41 per barrel after crossing to $115 earlier in the session.

Gold futures for June delivery edged up 0.10%, or $5, to $4,684.70 per ounce.

Market Drivers

Reports indicate that the United States, Iran, and a group of mediators are discussing terms for a potential 45-day ceasefire. However, Tehran rejected the proposal, according to Iranian media. Meanwhile, Trump confirmed that the deadline for reopening the Strait of Hormuz by April 7 evening is non-negotiable.