Business & Markets
Oil tumbles more than 6% as US-Iran strike pause lifts Dow
Crude oil prices fell more than six percent and Wall Street stocks mostly rose early on Monday after US and Iranian officials indicated a pause in military strikes.
About 55 minutes into trading, the Dow Jones Industrial Average was up 0.7 percent at 52,298.68.
The S&P 500 gained 0.1 percent to 7,419.79, while the Nasdaq Composite slipped 0.1 percent to 24,957.07.
US ambassador to the United Nations Mike Waltz told Fox News that President Donald Trump would give negotiations “a little bit of room”.
Iranian army spokesperson Mohammad Akraminia said Iran had also halted military strikes.
Investors were also preparing for a busy week of corporate earnings, including results from Amazon, Microsoft, Boeing and ExxonMobil.
The Federal Reserve is due to announce its second interest-rate decision under chairman Kevin Warsh on Wednesday.
Futures markets indicated a roughly 62 percent probability that the Fed would leave interest rates unchanged.
Uncertainty notes
The source did not state whether the pause in military strikes would lead to a formal agreement.
The Federal Reserve decision was still pending.
Source
AFP news report published on .