US stocks jumped Tuesday morning as oil prices dipped and investors largely looked past uncertainty around the Iran war – instead hoping for a peace deal and focusing on strong earnings.
The Dow Jones Industrial Average rose 310 points, or 0.6%, by approximately 9:45 a.m. ET, while the S&P 500 and Nasdaq each increased 0.1%.
Brent crude oil prices declined 0.1% to $95.36 a barrel while West Texas Intermediate traded roughly flat at $87.34. National average gasoline prices fell slightly to $4.02 a gallon – still at a roughly 30% premium compared to pre-war prices.
Shares in UnitedHealth soared nearly 8% premarket as the health insurer became the latest major company to deliver an earnings beat and hike its financial forecasts, signaling a turnaround.
Yet tensions in the Middle East remained high as President Trump said he has no plans to extend a quickly-approaching Wednesday deadline for a temporary cease-fire with Iran.
“Well, I don’t want to do that,” Trump told CNBC’s “Squawk Box” Tuesday when asked about letting talks with Iran continue if they run past tomorrow’s deadline without a peace deal.
He added that if the cease-fire ends Wednesday without a more permanent peace agreement, he is prepared to resume attacks on Iran.
“I expect to be bombing because I think that’s a better attitude to go in with,” he said.
The president also took aim at “treasonous” pols who have been pressuring him to reach a deal, saying he doesn’t “want to be rushed” and that opposition to the war is bad for negotiations.
In a Truth Social post earlier Tuesday morning, Trump said: “Iran has Violated the Cease Fire numerous times!”
Trump on Monday announced that the US Navy had seized an Iranian cargo vessel, as the two nations vie for control of the Strait of Hormuz – a vital maritime route for 20% of the world’s oil.
He told The Post Monday that he is willing to meet with senior Iranian leaders as he brushed off the regime’s threats to boycott the latest round of peace talks in Pakistan.
