Morning Business Report: Dow jumps as BlackRock signals confidence, home sales fall and cancer study shows promise

A major shift in outlook from BlackRock is helping fuel optimism on Wall Street.

(LILAMAX)- A major shift in outlook from BlackRock is helping fuel optimism on Wall Street, as the firm says the conflict involving Iran appears contained—if not essentially over—and predicts strong earnings for U.S. companies.

That confidence is reflected in the markets, with the Dow Jones Industrial Average closing up 302 points, finishing at the highs of the day as investors bet stability will hold.

However, the broader economy is showing mixed signals.

New data shows U.S. home sales fell 3.6% in March, marking a weak start to the critical spring selling season. Analysts say high housing costs and ongoing economic uncertainty are keeping buyers on the sidelines. The housing market has struggled for the past three years, and current trends suggest little improvement ahead.

In the health sector, there may be a major breakthrough in the fight against pancreatic cancer. Revolution Medicines says its experimental treatment nearly doubled overall survival in a new study. The company plans to submit the data to the U.S. Food and Drug Administration and other global regulators for potential approval.

Meanwhile, April marks Financial Literacy Month, and new surveys highlight growing concern among families about preparing children for real-world money decisions.

Data from Intuit—the parent company of TurboTax, Credit Karma, QuickBooks and Mailchimp—shows 88% of respondents believe financial literacy should be taught as a core subject in schools, alongside math and science.

A separate survey from Talker Research and Huntington Bank found many teens still lack basic financial tools, including savings accounts and debit cards. Most parents surveyed said children should have a savings account by age 13 and a debit card by age 16.