US stocks close higher as war concerns eases

The New York Stock Exchange closed higher as optimism persisted that the US and Iran might reach a permanent agreement.

Hopes for a resolution in the Middle East and strong earnings reports from companies boosted investor risk appetite, leading to a positive trend in the stock markets.

The Dow, however, rose 0.24%, or 115 points, to finish at 48,578.72.

The S&P 500 gained 0.26%, or 18.33 points, to close at 7,041.28, while the Nasdaq rose 0.36%, or 86.69 points, to 24,102.70.

The Nasdaq extended its winning streak to 11 sessions. The S&P 500 also marked its 10th close in positive territory in the last 11 trading days.

US President Donald Trump announced on his social media account that Israel and Lebanon had agreed to a 10-day ceasefire.

He stated that talks with Iranian officials could resume this weekend and adding, “We're getting along very well with the new Iranian leaders."

While continuing to send threatening messages to Tehran by said the war will continue if there is no deal.

On the macroeconomic front, the number of first-time jobless claims in the US fell to 207,000 in the week ending April 11, coming in below expectations.

US industrial production also fell by 0.5% on a monthly basis in March.

European markets

European stocks saw mixed figures, with the pan-European Stoxx Europe 600 index falling 0.05% to close at 616.95 points.

In national markets, the UK's FTSE 100 earned 0.29% to 10,589.99, and Germany's DAX 40 went up 0.36% to 24,154.47 points.

France's CAC 40 lost 0.14% to 8,262.70, Italy's FTSE MIB 30 slipped 0.27% to 48,026.94, and Spain's IBEX 35 lost 0.53% to end at 18,089.50.