Markets Surge, Oil Dips as Iran Tensions Ease

0:00It's April 13th, I'm Cory with the story, and this is Cindy News today, Local News powered by AI. Markets are bouncing back overnight, with stocks climbing and oil futures dipping below $100 US dollars a barrel. The big driver is the US Navy kicking off its blockade of Iranian ports in the Strait of Hormuz, turning away a couple of ships while a few tankers. Slip through. Wall Street led the charge, S&P 500 up 1%, Dow half a percent higher, Nasdaq 1.2%, over here, ASX futures point to a 1.4% gain at 9,072 points, shaking off Monday's small drop to 8,000. 9-60. Traders are clinging to optimism after President Trump said Iran wants a deal, easing some fears of escalation. The Aussie dollar jump half a percent to 70.94 US cents, also stronger against the euro and pound. He's now turned to RBA deputy governor Andrew Hauser's fireside chat in New York at 8.15am

1:00our time. His past hawkish comments shifted rate hike bets, and with a May 25 basis point hike priced at nearly 70%, he could swing things. Either way, oil's pullback from yesterday's spike offers some relief, but talks of reviving Australia's oil industry overlook our thin reserves. Another signal a solid start down under, so keep watching how tensions play out.