Two of the leading US stock indexes closed Wednesday's trading on the New York Stock Exchange at record highs. The benchmark S&P 500 index rose 1.5 percent to 7,364.99, its highest level ever for the second day in a row.
The largest index of technology stocks, the Nasdaq Composite, closed at 25,838.94, a rise of two percent and also a record high for the second day in a row. The Dow Jones industrial average rose 1.2 percent to 49,910.04 on Wednesday.
Stocks have soared while oil prices have fallen in response to possible progress in negotiations between the United States and Iran on the conflict in the Middle East. The gains on the US stock exchanges are also influenced by strong financial reports from large companies.
Iran said earlier on Wednesday that the country is reviewing a US proposal that could potentially bring an end to the war between the US, Israel and Iran. A war that began on February 28 with US and Israeli attacks. Iran will present its views to Pakistan, which has acted as a mediator in the negotiations, it says.
The US expects a response from Iran within 48 hours, writes the American media Axios. US President Donald Trump said on Wednesday that he believed a deal with Iran was very possible. He also threatened to resume bombing Iran if the talks break down.
War in the Middle East has created turmoil
The war in Iran has created turmoil in the stock markets, especially due to rising oil prices.
Iran closed virtually all shipping traffic in the Strait of Hormuz in early March. Hundreds of vessels have since been stranded in the area.
The Strait of Hormuz, which connects the Persian Gulf and the Gulf of Oman, is one of the world's most important maritime trade routes when it comes to energy security.
It is one of the busiest straits in the world and a crucial sea route for oil-producing countries in the area.
A large part of the world's oil and natural gas is normally shipped out through the strategically important bottleneck in the Middle East.
/ritzau/AFP
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