Stocks Climb as Trump Hints War Could Be Over Soon: Markets Wrap

Wall Street staged a dramatic comeback, with stocks and bonds rebounding on hopes the 10-day-old Iran war may be nearing a conclusion. Oil tumbled in post-settlement trading after earlier topping $100.

The S&P 500 climbed 0.8% as President Donald Trump told CBS the conflict is “very complete, pretty much” and the military operation is “very far” ahead of its initial four- to five-week timeframe. The equity benchmark erased an intraday loss of over 1.5% for the first time since April. US crude dropped to around $87 in late hours. Ten-year Treasury yields halted a five-day increase.