Morning Business Report: Markets rally on Iran peace deal as major media merger wins approval
Stocks moved higher and oil prices fell sharply after the United States and Iran reached a peace agreement that is expected to reopen a critical global shipping route.
(LILAMAX)- Stocks moved higher and oil prices fell sharply after the United States and Iran reached a peace agreement that is expected to reopen a critical global shipping route.
The Strait of Hormuz, which carries roughly 20% of the world’s oil supply, is scheduled to reopen Friday when officials are expected to sign the agreement in Switzerland. The blockade of the waterway had disrupted global supply chains and contributed to rising costs for oil, natural gas and fertilizers. Oil prices fell as much as 5% on news of the agreement, while investors pushed stocks higher.
Meanwhile, the Justice Department approved Paramount Skydance’s proposed $110 billion acquisition of Warner Bros. Discovery. Federal officials said they completed an eight-month investigation and determined the merger was unlikely to harm consumers despite significantly reshaping the entertainment and media industries.The deal would bring major brands including Paramount, Warner Bros., HBO Max, CNN and CBS under the same corporate umbrella, creating one of the largest media companies in Hollywood.
Wall Street also received a boost from the successful public debut of SpaceX.
Shares of the aerospace company rose 19% by the closing bell on their first day of trading, adding to investor optimism. A new report also found that women continue to hold a relatively small share of leadership positions among the nation’s largest companies. Women currently lead 55 Fortune 500 companies, representing 11% of the list. While that figure matches last year’s record high, researchers say progress in female corporate leadership appears to have stalled. Experts point to stricter return-to-office policies and reduced workplace benefits as factors that may be slowing advancement.
Meanwhile, a new survey suggests dreams and nightmares may have a greater impact on people’s lives than many realize.According to research conducted by Talker Research, one in four Americans said a dream or nightmare led them to make a major life decision, such as quitting a job or ending a relationship. The survey also found the average American experiences a nightmare about once a month, while members of Generation Z report having bad dreams more frequently than other age groups.
Nearly 40% of respondents said they believe a dream or nightmare has later come true in some form.
