US Stocks Surge, Oil Dips; War Fears Ease

0:00It's March 31st. You're listening to Sydney News today, AI-powered local news. I'm Corey with the story. US stocks are bouncing back strong today, clawing up wartime losses after word spread that President Trump told his team he's ready to wrap up the military push against Iran, even if the Strait of Hormuz stays mostly shut. The S&P 500 jumped 2.3 percent. It's best stay since the war kicked off, while the Dow climbed 841 points or 1.9 percent and the Nasdaq shot up 3.2 percent. Oil prices dipped a bit, easing some heat off the markets. Brent crude fell 2.1 percent to $105.13 a. Barrel and US crude dropped 0.7 percent to $102.12. Down under, Aussie futures point to a 1.1 percent gain at open, with a dollar strengthening to 68.92 US cents. U.S. are breathing easier, but the war's oil swings have everyone on edge, fearing

1:00long-term supply cuts from the Persian Gulf that could spike, inflation worldwide. Europe's already seen prices climb to 2.5 percent in March, and airlines like Norwegian Cruise Line and Delta are rallying 4.5 and 4.3 percent thanks to cheaper fuel hopes. Tech leads the charge to, with Marvel up 11.4 percent on an NVIDIA $2 billion investment in partnership, NVIDIA itself up 4.8 percent and Centesa Pharmaceuticals soaring 44.9 percent on an Eli Lilly buyout worth up to $7.8 billion. Bonds eased as well, 10-year treasury yield down to 4.30 percent amid solid U.S. consumer confidence and job opening data. Still, risks linger if Iran keeps hitting tankers, but for now, this optimism has markets eyeing a real turnaround as talks could clear that vital, straight.