Catenaa, Wednesday, March 04, 2026- US stocks climbed on Wednesday following a report that Iran has indirectly approached the US to discuss terms for ending the escalating conflict.
The tech-exposed Nasdaq Composite led the way up at the open, gaining 1.4%. Meanwhile, the benchmark S&P 500 advanced 0.9%, and the Dow Jones Industrial Average picked up around 0.7% after the major US benchmarks closed sharply lower on Tuesday.
The conflict that has whipsawed stocks entered its fifth day on Wednesday with fresh strikes by Israel on Tehran as Iran awaits the funeral of Supreme Leader Ali Khamenei, killed in weekend attacks.
Worries over the fallout from hostilities helped drive Korea’s main benchmark to its biggest one-day crash on record.
But stocks gained on Wall Street following a New York Times report about Iran’s Ministry of Intelligence approaching the CIA through another nation’s spy agency about a possible end to the conflict.
However, US officials are said to be unconvinced by the move, and analysts downplayed the bid to negotiate as it was made soon after the fighting began.
Geopolitical tensions have been spurring volatility in US stocks, with dip-buyers playing a part as prices tumbled. Some on Wall Street have warned against counting on President Trump to “chicken out” and rescue stocks.
Trump said on Tuesday that the US would provide insurance and escorts for oil tankers to try to restore traffic through the crucial Strait of Hormuz, stalled amid threats from Iran, though insurance analysts say the measure may not be as effective as hoped. The promise of safe passage came as soaring oil prices threatened to bump up inflation, curbing the scope for US interest rate cuts.
