New York stocks opened higher. At 10:25 a.m. on the 25th (local time) on the New York Stock Exchange, the Dow Jones Industrial Average was up 451 points (0.98%) from the previous session at 46,575.24.
The Dow opened up about 1.2% early in the session, and at the same time the Standard & Poor's (S&P) 500 and the Nasdaq composite rose 1% and 1.1%, respectively.
Markets are watching shifts in the Middle East. The New York Times (NYT) reported earlier that the United States delivered a 15-point peace plan to Iran to end the war. The plan was said to have been conveyed through Pakistan, but the gap between the two sides' positions was still reported to be wide.
The Wall Street Journal (WSJ) reported that the United States is deploying the Army's 82nd Airborne Division to the Middle East. The previous day, U.S. President Donald Trump said, "We are currently negotiating with Iran," and noted that "Iran is showing a reasonable attitude," hinting at the possibility of a peace deal.
International oil prices fell that day. West Texas Intermediate (WTI) futures dropped about 4% to around $88 per barrel, and Brent fell 4% to trade around $99. Along with the drop in oil prices, U.S. Government Bonds yields also fell.
Michael Kantrowitz, chief investment strategist at Piper Sandler, said, "The market is currently moving on a single variable: oil prices." He pointed out, "The U.S. economy can tolerate oil at $90–$100 per Barrel, but rising interest rates and persistent inflation concerns can weigh on equity valuations."