Commodities
Markets Soar Amid Hopes for End to Iran War
The U.S. and Canadian stock markets experienced a significant surge on Tuesday, driven by hopes of an end to the Iran war.
According to EnergyNow.com, the S&P/TSX composite index rose by 833.10 points to 32,768.04, while the Dow Jones industrial average increased by 1,125.37 points to 46,341.51.
The rally was also fueled by oil price movements, with the May crude oil contract declining by $1.50 to $101.38 per barrel and Brent crude oil falling 3.2% to settle at $103.97.
TD Wealth senior investment adviser Michael Currie attributed some of the enthusiasm in the stock market to these oil price moves, stating that 'oil price moves on Tuesday helped drive some of the enthusiasm in the stock market.'