Faded Fear. All three major U.S. stock indexes rose on Thursday as tensions with Iran appear to have diminished. As calm spread through the market, gold and oil fell back to levels prior to an Iranian military leader’s death last Friday. In trade news, Chinese Vice Premier Liu He will visit Washington next week to sign an interim trade deal.
Boeing stock (ticker: BA) rose after U.S. officials suggested the Boeing 737 plane that crashed near Tehran on Wednesday was shot down by Iran. Apple stock (AAPL) set an intraday high as iPhone shipments to China in December jumped 18% from a year ago. HP (HPQ) again rejected an unsolicited takeover bid from Xerox Holdings (XRX), and both stocks jumped. In today’s After the Bell, we…
note that Iran remains a risk despite Washington’s dovish talk yesterday; see how the Federal Reserve feels about the 2020 economy; and watch retailer stocks fall on disappointing holiday sales.
Not So Fast
Stocks continued to recover from the initial selling in the wake of the death of Iranian general Qassem Soleimani last week. All three major indexes finished in the black on Thursday, hitting all-time highs again.
The Dow Jones Industrial Average has increased 211.81 points, or 0.74%, to close at 28,956.90. The S&P 500 added 21.65 points, or 0.67%, to end at 3274.70, and the Nasdaq Composite rose 74.18 points, or 0.81%, to close at 9203.43.
In his speech to the nation yesterday, President Donald Trump indicated that he would not take military actions to retaliate against Iran’s missile attacks on Iraqi bases housing American troops, signaling a de-escalation of tensions between the two countries.
Still, there is