US sharemarkets rose on Wednesday, extending gains from the previous session as oil prices declined and investors monitored developments in the US-Iran war. The S&P 500 added 0.72% to close at 6,575.32, while the Nasdaq Composite gained 1.16% to 21,840.95. The Dow Jones Industrial Average rose 224 points, or 0.48%, to finish at 46,565.74.
The advance follows a strong rebound earlier in the week, with sentiment supported by expectations that the conflict could move toward resolution. However, the major indices remain below recent highs after a period of sustained volatility.
Oil and commodities
Oil prices eased during the session, with West Texas Intermediate crude falling 1.24% to settle at US$100.12 a barrel. Brent crude declined 2.7% to US$101.16 a barrel.
Gold prices rose, reflecting ongoing uncertainty in global markets.
Market drivers
Comments from US officials remained a focus for investors. President Donald Trump said Iran had asked for a ceasefire, adding that any agreement would depend on conditions relating to the Strait of Hormuz. Iranian officials disputed the claim.
The market reaction reflects shifting expectations, with investors balancing signs of potential de-escalation against ongoing uncertainty. Trading conditions remain volatile, with further updates expected to influence near-term direction.
Australian Market Outlook
Australian shares are set to open modestly higher, tracking gains on Wall Street. S&P/ASX 200 futures were up 19 points, or 0.2%, to 8,728.
Locally, February trade balance and job vacancies data are due at 11.30am AEDT.
