U.S. equity markets added to an early‑season rally on Tuesday. The Dow Jones Industrial Average closed at 46,993 points, up 0.1 percent, while the broader S&P 500 finished at 6,716 points, up 0.3 percent. The technology‑heavy Nasdaq was the strongest performer, rising 0.5 percent to 24,780 points.
Oil prices climbed higher despite the markets’ focus on geopolitical developments. Brent crude, quoted for Tuesday evening around 9:00 p.m. German time, traded at $103.70 a barrel-3.5 percent above the previous close. Market participants remain hopeful that the Strait of Hormuz will reopen quickly; a prolonged closure would push oil prices higher, feed inflation, and potentially prompt further interest‑rate hikes.
Airline shares benefited from a surge in travel bookings as passengers seek to lock in fares amid fears of rising fuel costs. The Dow Jones U.S. Airlines Index gained roughly 4 percent that day.
Gold slipped back below the psychological $5,000‑per‑troy‑ounce mark, trading at $4,999 per ounce in the evening-a decline of 0.1 percent. This price equates to about €139.35 per gram.
In currency markets, the euro strengthened against the dollar: one euro fetched $1.1534, whereas one dollar was worth €0.8670.