Cooling Down. Stocks rose on Wednesday as President Donald Trump signaled a de-escalation of tensions with Iran in his latest address to the nation. Oil and gold retreated. Boeing stock (ticker: BA) fell after one of its jets—operated by Ukraine International Airlines—crashed in Iran. Walgreens Boots Alliance stock (WBA) tumbled after the pharmacy chain delivered more bad news in its latest earnings report. In today’s After the Bell, we…
check on what Trump said in his first live speech since the killing of Iranian general Qassem Soleimani; wonder if Iran wants to de-escalate the tension as well; and embrace yet another solid jobs report for December.
Ready for Peace
All three major indexes closed with gains on Wednesday, as President Trump’s latest comments cooled Iran-related fears. The Dow Jones Industrial Average rose 161.41 points, or 0.56%, to close at 28,745.09. The S&P 500 rose 15.87 points, or 0.49%, to end at 3253.05, and the Nasdaq Composite gained 60.66 points, or 0.67%, to close at 9129.24.
In an address from the White House, President Trump—in his first live speech since the killing of Soleimani last Thursday—signaled a de-escalation of tensions with Iran. Trump suggested that Iran “appears to be standing down” after last night’s missile attack on Iraq bases that house American troops, and that the U.S. doesn’t seek to use military force. “The U.S. is ready to embrace peace with all who seek it,” he said.
Still, Trump announced that his administration would impose new economic sanctions on Tehran “until Iran changes its behavior.” He called on the U.K., Germany, France, Russia, and China