[New York Stock Exchange] 'No Prolonged War'... All Major Indexes Close Higher

원본보기 아이콘

On March 4 (local time), all three major indices on the New York Stock Exchange closed higher as investor sentiment recovered on news of U.S. success in the Iran war.

On this day at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose by 238.14 points (0.49%) to close at 48,739.41. The large-cap S&P 500 index increased by 52.87 points (0.78%) to 6,869.50, while the technology-focused Nasdaq index jumped by 290.793 points (1.29%) to finish at 22,807.484.

Technology and semiconductor stocks led the market. Notable gains were seen in Nvidia (up 1.47%), Microsoft (up 0.47%), Amazon (up 3.82%), TSMC (up 1.42%), Tesla (up 3.20%), Broadcom (up 1.60%), and Meta (up 1.82%).

This appears to be due to a recovery in risk appetite as the likelihood of a prolonged war in Iran diminished. U.S. Secretary of Defense Pete Hegseth held a briefing with Chairman of the Joint Chiefs of Staff Dan Cane and stated, "The United States is winning decisively, destructively, and mercilessly."

In particular, Secretary Hegseth said, "The two most powerful air forces in the world will completely dominate Iranian airspace, resulting in uncontested airspace." This declaration of air superiority in the war is effectively a declaration of victory.

Previously, The New York Times (NYT) reported that Iran's intelligence ministry had offered the Central Intelligence Agency (CIA) ceasefire terms via a third country, which also helped to boost the stock market. Although Iran denied this, it still contributed to the recovery in investor sentiment.

원본보기 아이콘

Scott Wren of Wells Fargo Investment Institute commented, "While there is still a risk of further escalation, I believe the market's risk aversion is more likely to be short-lived."

Expectations that the war will end sooner than anticipated also calmed international oil prices. On the New York Mercantile Exchange, April delivery of West Texas Intermediate (WTI) crude oil rose by just $0.10 (0.13%) to $74.66 per barrel. On the London ICE Exchange, May delivery Brent crude, the global oil benchmark, settled at $81.40 per barrel, up $0.40 (0.5%).

U.S. private employment data also lifted investor sentiment. According to U.S. employment information provider Automatic Data Processing (ADP), private sector employment in the United States increased by 63,000 in February compared to the previous month. This figure far exceeded market expectations of 48,000 and represented the largest increase since July 2025.

The non-manufacturing index, which reflects the U.S. service sector, also showed stronger-than-expected expansion, easing some concerns about an economic slowdown.

Anthony Saglimbene, chief market strategist at Ameriprise, analyzed, "At least for now, concerns that the labor market could weaken or deteriorate have been somewhat alleviated, and the U.S. economy stands on solid ground."

The value of the dollar, which had surged, fell after three trading sessions. The dollar index, which measures the value of the U.S. dollar against six major currencies, declined by 0.3% from the previous session to 98.93.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.