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EXCERPT:
Wall Street’s major indexes ended sharply higher on Thursday, with stocks extending gains after U.S. President Donald Trump said he canceled planned strikes against Iran, and on the eve of the market debut of Elon Musk’s SpaceX.
Hours before the expected strikes, Trump said on Truth Social that negotiations with Tehran had advanced to the highest levels of Iran’s leadership and had been okayed by a broad coalition of regional powers.
Oil prices dropped sharply, while stocks added to their rebound from the prior session’s selloff. On Wednesday, major Wall Street indexes fell more than 1% and the S&P 500 Technology Index confirmed a correction.
