Global financial markets experienced a strong upward surge during trading today, driven by a decrease in geopolitical concerns in the Middle East following reports that the United States and Iran are close to an agreement that could end the military escalation and open the door to a broader de-escalation in the region.
Performance of US markets:
The Dow Jones Industrial Average opened strongly at 49,725 points, up about 426 points or 0.87%.
The S&P 500 index also rose to 7,305 points with gains of 46 points or 0.63%.
The Nasdaq Composite Index rose to 25,501 points, up about 175 points or 0.69%.
In contrast, the Russell 2000 index of small companies jumped to 2,845 points with a strong rise of 1.75%.
Performance of American companies:
AMD's stock jumped more than 18% after the company announced strong results and positive revenue forecasts for the next quarter.
Super Micro Computer's stock also rose by about 15% after strong results and earnings forecasts that exceeded Wall Street estimates.
Disney's stock also rose by about 5% after strong quarterly results, supported by the performance of its streaming services and theme parks.
European markets:
The European STOXX 600 index rose to 623 points with gains of 2.21%.
The German DAX index rose to 24,932 points, up by 2.18%.
Meanwhile, Britain’s FTSE 100 index rose to 10,448 points with strong gains of 2.25%.
The French CAC 40 index jumped to 8,309 points, up 3.07%.
Meanwhile, Italy’s FTSE MIB index rose to 49,478 points with gains of 1.90%.
Asian markets:
Australia’s ASX 200 index rose to 8,793 points with gains of 1.30%.
Japan’s Nikkei index rose to 59,513 points, up 0.38%.
India’s NIFTY 50 index jumped to 24,330 points with gains of 1.24%.
Hong Kong’s Hang Seng index rose to 26,213 points, up 1.22%.
Meanwhile, China’s Shanghai Composite Index rose to 4,160 points with gains of 1.17%.
Oil and energy:
West Texas Intermediate crude fell to near $91-93 a barrel, down about 9%.
Meanwhile, Brent crude fell to near $100-$101, a drop of approximately 7% to 9%.
US economic data:
ADP data showed the US economy added about 109,000 private sector jobs in April, exceeding expectations of 84,000 jobs, compared with 61,000 jobs in March.
Summary:
Global markets are currently experiencing a balance between the prospects of geopolitical de-escalation between the United States and Iran, and the continued strength of the US economy and the results of giant companies, especially technology and artificial intelligence companies.
