Stocks Close Higher After President Trump says Iran War is "Pretty Much" Complete

Market Performance - The S&P 500 Index closed up +0.71%, the Dow Jones Industrial Average closed up +0.39%, and the Nasdaq 100 Index closed up +1.13% on Monday [1] - March E-mini S&P futures rose +0.69%, and March E-mini Nasdaq futures rose +1.14% [1] Oil Prices and Economic Impact - Oil prices initially spiked above $100 per barrel due to geopolitical tensions, specifically after Israel bombed Iranian fuel depots [3] - Saudi Arabia cut production as local storage facilities neared capacity, contributing to the spike in oil prices [3] - Oil prices later fell after G-7 finance ministers pledged to release strategic oil reserves if necessary and President Trump indicated a potential end to the Iran war [3] Economic Indicators - Ongoing concerns about the US economy were noted after weak economic data, including a decline of -92,000 in US February payrolls and a -0.2% month-over-month decrease in US January retail sales [5] Earnings Season Insights - Over 95% of S&P 500 companies have reported earnings, with 74% beating expectations, indicating a positive trend for stocks [6] - S&P earnings growth is projected to increase by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth [6] - Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to rise by +4.6% [6]