Markets Surge, Oil Dips on Iran War Optimism

0:00It's April 1st, I'm Cory with the story, and this is Sydney News Today, your AI-powered local news. Global stocks are surging and oil prices are dipping as traders bet on a quick end to the war with Iran. The S&P 500 climbed 1.1%, building on yesterday's big jump, its best since last spring. Wall Street's Dow rose 401 points, or 0.9%, while the NASDAQ gained 1.7%. U.S. in Europe and Asia piled on even bigger wins, like an 8.4% spike in South Korea and over 2% in France and Germany. Australia's ASX jumped 2.2% yesterday, with futures pointing to more gains today. Oil's pulling back toward $100 a barrel, after President Trump's claim the U.S. could wrap up operations in two to three weeks. But that optimism's shaky. With Trump's post about Iran begging for a ceasefire shot down his fake by their foreign ministry, oil still hovering around $101, 97 cents for Brent Crude way up from 70

1:05before the war, and U.S. gas hit $4.6 a gallon. Fears of long-term supply cuts from the Persian Gulf have markets swinging wild. Fighting rages on, with Iran striking an oil tanker and holding the straight of Hormuz tight, while airstrikes hit Iran. Big tech like Alphabet up 4.1% and NVIDIA 1.3% led the rally, pulling the S&P within 5.4% of its record high. Even Eli Lilly popped 4.5% on weight loss drug approval. Analysts worn more damage couldn't linger even if it ends soon, but better sentiment might push markets higher. Trump sets to address the nation tonight, so keep watching how this plays out.