dailyloe.com – The S&P 500 closed slightly higher Tuesday as traders reacted to diplomatic efforts to avert a US-Iran conflict. The Dow Jones Industrial Average fell 85 points, or 0.18%, to 46,584.46. This movement followed a proposal from Pakistan’s Prime Minister Shehbaz Sharif.
Sharif asked former President Donald Trump to postpone a deadline for attacking Iranian infrastructure. The request was for a two-week delay to facilitate a potential deal. Pakistan also asked Iran to open the Strait of Hormuz as a goodwill gesture.
White House press secretary Karoline Leavitt confirmed Trump was aware of the proposal. She stated a response would be forthcoming. Traders had been monitoring an 8 p.m. ET deadline set by Trump for Tehran.
Trump had earlier posted on Truth Social about the high stakes. He suggested a civilization could die but left room for a different outcome. These remarks kept investor sentiment volatile throughout the trading session.
The S&P 500 inched up 0.08% to close at 6,616.85. The Nasdaq Composite gained 0.10%, settling at 22,017.85. Major averages recovered from their lows in the final trading hour.
Oil prices saw mixed results amid the geopolitical uncertainty. West Texas Intermediate crude futures rose 54 cents to $112.95 per barrel. International Brent crude futures dipped slightly, ending the day little changed overall.[]
Source: CNBC
