The news of the ceasefire has had a significant impact on the stock market, with the Dow Jones Industrial Average climbing 507.24 points, or 1.19%, to close at 43,089.02. The S&P 500 gained 1.11% to end at 6,092.18, and the Nasdaq Composite advanced 1.43%, settling at 19,912.53. Oil prices have also been affected, with international benchmark Brent crude dropping 6.1% and U.S. crude oil falling more than 7% for a second straight day.
The decline in oil prices has boosted airline stocks, with American Airlines rising more than 2% and Delta Airlines advancing nearly 4%.
Ceasefire impacts markets and oil prices
President Trump stated that “Israel is not going to attack Iran,” adding that the ceasefire remains in effect despite frustrations with both sides.
Israel reported that a radar system near Tehran was attacked and accused Iran of launching missile strikes against Israel, which Iran denies. In Israel, anti-war demonstrators and families of hostages held rallies on Saturday to demand a ceasefire in Gaza and the return of the remaining hostages. Tens of thousands of protesters packed Hostages Square in Tel Aviv, calling for an end to the Gaza war.
Iranian state news aired an apparent interview with Ali Shamkhani, a close aide to Iran’s supreme leader, sparking confusion about his fate following reports of his death in an Israeli airstrike on June 13. The date of the interview or Shamkhani’s current condition cannot be independently verified. The ceasefire has led to renewed efforts from international mediators to secure a ceasefire between Israel and Hamas.
Protests across Israel have highlighted the public’s demand for peace and the return of hostages, underscoring the urgent need for a resolution to the ongoing conflict.
