Market News
Iran ceasefire hopes bolster stocks, central banks in focus next - REUTERS
Summary
- Oil falls on reports Iran sought a ceasefire
- US stock indexes end higher, following global counterparts
- Busy central bank week ahead
- Investors eye Tuesday release of US retail sales data
NEW YORK, June 16 (Reuters) - Stock indexes closed higher after last week's losses and a barrel of oil got $1 cheaper on Monday as investors took heart from reports that Iran was seeking to end hostilities with Israel, and stayed confident in their predictions for a busy week of central bank meetings.
Oil prices fell after the Wall Street Journal reported Iran was seeking a truce following an attack by Israel on Friday that raised fears of wider conflict, sent oil prices soaring, and weighed on stocks.
Sources told Reuters that Iran has asked regional allies to press U.S. President Donald Trump to influence Israel to agree to a ceasefire.
Geopolitics still loomed, with early cracks threatening to emerge among Group of Seven leaders, who are meeting in Canada. Officials gave conflicting statements about whether Trump would sign a draft statement calling for de-escalation of the Israel-Iran conflict.
