United States stocks rally amid eased concerns over Mideast tensions


The S&P 500, Dow and Nasdaq all rose after the USA markets opened on Wednesday morning, reversing a sharp decline during overnight trading following an Iranian missile attack on two military bases in Iraq that house U.S troops.

The Dow Jones Industrial Average gained 213 (0.8%), the Nasdaq rose 0.7% to a record level and the The S&P 500 rose 0.7% to a record level.

At 12:01 p.m. ET, the Dow Jones Industrial Average was up 204.40 points, or 0.72%, at 28,788.08, the S&P 500 was up 22.02 points, or 0.68%, at 3,259.20 and the Nasdaq Composite was up 64.35 points, or 0.71%, at 9,132.94. NY time.The Nasdaq 100 Index rose 0.6%.The Stoxx Europe 600 Index climbed 0.3%.Germany's DAX Index jumped 1.3%.

Markets have welcomes signs that United States president Donald Trump is unlikely to take further action after Iran retaliated against the U.S. for the assassination of top Iranian military official Qassem Soleimani last week.

A USA drone struck a convoy at Baghdad International Airport last Friday, killing Iranian Major General Qassem Soleimani, sparking outrage and revenge threats from Tehran.

Wall Street's main indexes brushed off government data that showed domestic jobs increased by 145,000 last month, below the forecast for a 164,000 rise, as the pace of hiring remained more than enough to keep the longest economic expansion in history on track. The S&P 500 and Nasdaq were up 0.9% and 1.8%, respectively, for the week.

The S&P 500 fell 9.35 points, or 0.3%, to 3,265.35.

The Dow is up 322.02 points, or 1.1%.

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"This report is not enough to move the market one way or the other".

Health-care stocks rose 0.4 per cent, led by Intuitive Surgical, which reported a better-than-expected quarterly sales.

Tesla shares squeezed higher after receiving after Argus Research raised its price target to $556 from $396 late Tuesday.

Asian stock markets jumped on the heels of Wednesday's rally, which really took hold after trading had closed in the region. Germany's DAX returned 1.3%, and France's CAC 40 added 0.2%. Japan's Nikkei lost 1.6 percent, China's Shanghai Composite fell 1.2 percent and Hong Kong's Hang Seng shed 0.8 percent. Gold futures contracts for February delivery fell 0.9% to $ 1,560 an ounce.

The price of oil also dipped.

In other commodities trading, benchmark US crude slipped 5 cents to settle at $59.56 a barrel.

Brent crude, used to price global oils, advanced 24 cents to $65.68 per barrel in London.

Smaller rival J.C. Penney Co Inc dropped 10.8 per cent after disappointing same-store sales numbers.