US stocks rose on Wednesday after President Donald Trump extended the ceasefire with Iran, easing immediate concern about a wider escalation in the Middle East. The Dow Jones Industrial Average gained 358 points, or 0.72%, to 49,511. The S&P 500 rose 0.65% to 7,120, and the NASDAQ Composite added 1.16% to 24,500.
The market moved higher after two weaker sessions tied to concern over the ceasefire deadline and stalled diplomacy. Wednesday’s advance came as investors responded to the extension while continuing to monitor tensions around the Strait of Hormuz. Brent crude remained near $99.15 a barrel, and US crude traded near $90.20.
Trading data showed that the gains extended across the market. Advancing stocks outnumbered decliners by 3.06-to-1 on the New York Stock Exchange and by 2.63-to-1 on the NASDAQ. The S&P 500 recorded 26 new 52-week highs and one new low, while the NASDAQ Composite posted 79 new highs and 26 new lows.