Dow Jones Logs Strongest Rally Since Early February on Middle East De-escalation Hopes

Investors are rushing back into equities after the U.S. president extended Iran’s deadline to reopen the Strait of Hormuz, easing supply fears and pushing oil prices lower.

Wall Street joined the global relief rally after Donald Trump delayed potential strikes on Iran’s power infrastructure, boosting optimism across markets.

In New York, the Dow Jones Industrial Average surged 2%, gaining 928 points to reach 46,505.

Leading the gains were Caterpillar (+4.4%), 3M (+3.7%), and Home Depot (+3.65%).

The broader S&P 500 also climbed strongly, rising 1.9%.

Market sentiment improved after Trump extended by five days his deadline to take action against Iran’s energy infrastructure if shipping through the Strait of Hormuz is not restored, noting that the U.S. and Iran have held “very good and productive conversations” aimed at ending the three-week conflict.