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June 11, 2026 at 2:00pm ET
Stock Market Today: Stocks Bounce After Trump Cancels Strikes
Dow leads indexes higher with oil prices edging up
Stocks are surging and oil prices are falling after President Trump said on social media that he was cancelling strikes on Iran planned for tonight.
All three major indexes were recently up more than 1% after the president said multiple countries had agreed to a deal, with the U.S. naval blockade remaining in place until the agreement was finalized. The Nasdaq composite is leading gains, rising around 1.8%. The Dow industrials are up 1.6%, or around 800 points.
Oil prices fell, with Brent crude futures dropping around 3.4% to around $90 a barrel. Treasury yields also retreated sharply, with the yield on the benchmark 10-year note falling below 4.5%.
The gains came despite an 11% drop in Oracle shares after the software and cloud-computing company reported larger-than-forecast spending on data centers. While investors remain on edge following a recent slide in AI stocks, shares of chip makers and other AI-related stocks rose. Investors are also gearing up for the first day of trading for Elon Musk's SpaceX, expected tomorrow.
Elsewhere, the European Central Bank became the first major central bank to raise rates to tackle a war-driven resurgence in inflation.
— By Caitlin McCabe
Read Original at WSJ →