Dow takes jump after U.S., Iran reach peace deal
by Joe Fisher · UPIJune 15 (UPI) -- The Dow Jones Industrial Average jumped by up to 700 points on Monday following the announcement that the United States and Iran have reached a peace agreement.
The Dow's Monday index boost set an all-time single trading day high, up about 1.4%, while the S&P 500 rose 1.9% and the Nasdaq Composite increased by 3%.
SpaceX continued to surge after going public on Friday, rising by more than 10% on Monday.
President Donald Trump and Pakistani Prime Minister Shehbaz Shafir announced Sunday evening that the United States and Iran have agreed to the terms of a peace agreement. With the announcement, the president said the Strait of Hormuz will open, though it has not immediately opened as he said it would.
Shafir, who has acted as a mediator in peace talks, said the United States and Iran have signed a memorandum of understanding electronically.
The terms of the agreement include an end to military operations in Lebanon. However, Israel and Lebanon have continued to exchange fire, raising concern about the peace agreement remaining intact.
On Monday afternoon, the price of West Texas Intermediate had fallen by more than 5% to $80.46 per barrel.
Boeing has been the strongest riser on Monday with shares in its stock jumping nearly 5%. Chevron stock has fallen by about 4%.
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President Donald Trump speaks to reporters about restoring commercial fishing access to areas of the Pacific during a signing ceremony in the Oval Office of the White House on Thursday. Photo by Jim Lo Scalzo/UPI | License Photo