Wall Street Rallies on Iran Peace Hopes

0:00It's March 31st. You're listening to Sydney News today, AI-powered local news. I'm Cory with the story. Wall Street just capped off a rough month, with a huge rally, as stocks jumped on signs the U.S. might wrap up its military push against Iran. The S&P 500 closed nearly 3 percent higher, while the Nasdaq shot up almost 4 percent, shaking off a recent correction. Word from the Trump administration and Iran's president sparked the buzz, hinting that the conflict could ensune, maybe in days instead of dragging. On, betrayers glossed over a big if from Trump, who's okay calling it, quits even if Iran keeps the tight grip on the straight of Hormuz. Investors are latching on to any positive vibe, after weeks of war jitters tanked markets, betting on peace to unlock gains. That hope ignored risks, like restricted oil flows, or new tolls on ships passing through the strait. Energy traders stayed cooler headed, though, with May-Brent crude futures settling 5 percent higher at $118.35.

1:01Sense, but June contracts dipping 3 percent to $103.97. Analysts like NAB's Rodrigo Cattro stressed that reopening the strafe fully is where really matters for global trade and prices. Australia's ASX looks ready to ride the wave, too, with futures pointing to at least a 1.5 percent pop at the open. Keep watching how these peace talks play out, because they could reshape energy costs and markets worldwide.