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U.S. stocks open higher after Trump's Iran nuke deal decision

Xinhua,May 09, 2018 Adjust font size:

NEW YORK, May 9 (Xinhua) -- U.S. stocks opened higher on Wednesday as Wall Street digested U.S. President Donald Trump's decision to withdraw the Iran nuclear deal.

Shortly after the opening bell, the Dow Jones Industrial Average rose 62.76 points, or 0.26 percent, to 24,422.97. The S&P 500 added 7.03 points, or 0.26 percent, to 2,678.95. The Nasdaq Composite Index was up 13.00 points, or 0.18 percent, to 7,279.90.

Trump said Tuesday that the United States will withdraw from the Iran nuclear deal, a landmark agreement signed in 2015.

In a televised speech, Trump announced the exit, adding he will not sign the waiver of nuke-related sanctions against Iran.

Trump repeated his tough stance on the deal, saying it had failed to prevent Iran from developing nuclear weapons or supporting terrorism in the region.

Some analysts said that Trump' s decision could send oil prices higher, which would impact companies' earnings.

On the economic front, the Producer Price Index for final demand rose 0.1 percent in April, seasonally adjusted, missing market consensus of a 0.3-percent gain, the U.S. Labor Department reported Wednesday. Enditem

 

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