US indices rise over 2%; Dow Jones adds 1,300 points

US stocks closed higher on April 9, as investor risk appetite improved following a conditional ceasefire agreement between the United States and Iran. However, caution persisted amid uncertainty over the sustainability of the de-escalation.

The Dow Jones Industrial Average surged 2.85%, or 1,325 points, to close at 47,909 points.

The S&P 500 jumped 2.51%, or 165 points, to end at 6,782 points, while the Nasdaq Composite climbed 2.80%, or 617 points, to 22,634 points.

In Europe, the Stoxx Europe 600 index gained 3.88% to 613 points, amid positive performance across all sectors, except oil and gas.

The UK’s FTSE 100 added 2.51% to 10,608 points, Germany’s DAX rose 5% to 24,080 points, and France’s CAC 40 soared 4.49% to 8,263 points.

Japan’s Nikkei advanced 5.4% to 56,308 points, while the broader Topix index increased 3.32% to 3,775 points.

US Nymex crude futures for May delivery plunged 16.41%, or $18.54, to $94.41 per barrel.

As for gold, futures for June delivery gained 1.97%, or $92.5, to $4,777.2 per ounce.

Optimism prevailed after Washington and Tehran reached a de-escalation agreement on April 8. However, Iran accused the US of violating the truce, while traffic through the Strait of Hormuz stalled again, with reports indicating that only a limited number of vessels passed in the early hours following the agreement.