US Stock Market 'Cheers' Trump's Withdrawal of Iran Attack Plan...Dow Jones Reaches New High

▲ US, Iran, US stock market / AI-generated image

When US President Donald Trump withdrew his plan to attack Iran, the US stock market rose across the board. The Dow Jones Industrial Average began trading at an all-time high.

According to Barron's on August 3 (local time), the Dow rose 637 points, up 1.2%, in early trading. The S&P 500 rose 0.6%, and the Nasdaq Composite rose 0.8%. Starting the first trading day of August with a gain, it continued the rebound trend from late July.

The stock market rally began with Trump's statement on withdrawing the Iran attack. Trump stated that he would halt the attack to resume negotiations with Iran. However, Iran's foreign ministry denied claims that negotiations were underway.

International oil prices fell after Trump's remarks. Brent crude futures slipped to around $83 per barrel. West Texas Intermediate crude futures fell below $80 per barrel. US 10-year and 30-year Treasury yields also declined from recent highs.

Chris Larkin of E*TRADE, a subsidiary of Morgan Stanley, stated, “Falling oil prices could give the market a boost early this week.” He noted that as the diplomatic situation between the US and Iran frequently changes, corporate earnings and employment figures must support the stock market's upward trend.

Investors are closely watching the job openings and labor turnover report to be released on the 4th and the July employment report to be announced on the 7th. Palantir (PLTR) will release its earnings after the market closes on the 3rd. SpaceX, AMD, and Caterpillar (CAT) will release their earnings on the 4th. With AI-related stocks fluctuating, the earnings of major companies have emerged as a variable that will determine the direction of tech stocks.

[Article Key Summary]

-When Trump withdrew his plan to attack Iran, the Dow Jones index rose 1.2%, starting at an all-time high.

-The S&P 500 and Nasdaq indices also rose 0.6% and 0.8% respectively, while international oil prices and US Treasury yields fell.

-This week, US employment figures and earnings reports from major companies such as Palantir, SpaceX, and AMD are scheduled.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. The content should be interpreted for informational purposes only.*