Stocks rose and oil fell sharply Monday morning after President Trump said the U.S. has held talks with a “top person” in Iran and is “very intent on making a deal with Iran.”
The Dow Jones Industrial Average rose by 900 points, or nearly two percent. The Nasdaq composite and the S&P 500 each rose by more than one percent. The Russell 2000 index of smaller companies jumped nearly three percent.
Every sector of the S&P 500 was up on Monday morning. The best performing sector was consumer discretionary, one of the sectors that has beaten down by fears that higher gasoline prices could stymie consumer spending elsewhere.
Brent crude futures, the…
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