Stocks Rally on Easing Middle East Tensions and Slumping Oil Prices

Stocks are rising today as tensions in the Middle East ease and crude oil prices plummet. The S&P 500 Index has reached a two-week high, while the Dow Jones Industrial Average is at its highest level in three-and-a-half weeks.

The decline in crude oil prices also pushed bond yields lower, supporting stocks further. New York Fed President John Williams' dovish comments on interest rates and inflation expectations contributed to the positive sentiment.

Airline stocks and software companies are among the biggest gainers today, with American Airlines Group, United Airlines Holdings, Alaska Air Group, Atlassian Corp, ServiceNow, Microsoft, Adobe Systems, Oracle, Salesforce, Workday, Autodesk, and Intuit all rising by over 3%.