Stocks Extend Rally on War-End Optimism, Oil Falls: Markets Wrap

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By Ira Iosebashvili, Rose Henderson, and Andre Janse Van Vuuren

March 31, 2026 at 10:28 PM UTC

Updated on

April 1, 2026 at 8:07 PM UTC

US stocks rallied for a second day as hopes grew that the war in the Middle East may be nearing a conclusion, while Brent briefly fell below $100 a barrel. Treasuries wavered and the dollar marked a second day of declines.

The S&P 500 closed up 0.7%, adding to gains from the previous session as investors assessed comments by President Donald Trump on the war’s trajectory. Trump said on Wednesday that Iran has asked for a ceasefire, adding that the US would only consider it if the Strait of Hormuz were reopened. Iran’s foreign ministry said the claim of a ceasefire request was “false and baseless,” according to state TV.