Dow closes up more than 1,300 points after US-Iran ceasefire
A trader works on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, April 6, 2026. Signs of last-ditch efforts to secure a truce in the war that has rattled global markets spurred a cautious advance in stocks as oil retreated. (Photographer: Michael Nagle/Bloomberg via Getty Images)
(NEW YORK) — Stocks closed significantly higher on Wednesday, just hours after the U.S. and Iran announced a two-week ceasefire.
The Dow Jones Industrial average surged 1,325 points, or 2.8%, while the S&P 500 climbed 2.5%. The tech-heavy Nasdaq jumped 2.8%.
As part of the accord, Iran says it will allow tankers passage through the Strait of Hormuz, a vital shipping route for oil and gas, as long as they coordinate with the nation’s military.
Investors appeared optimistic that the agreement would ease one of the worst global oil shortages in decades, though the resumption of tanker traffic in the strait remained uncertain.
U.S. oil prices plummeted nearly 15% on Wednesday, registering at about $96 a barrel. Still, the price of oil remained well above pre-war levels of about $67 a barrel.
President Donald Trump touted the ceasefire in a social media post on Wednesday, saying there would be “no enrichment of Uranium,” despite the Iranians claiming that the U.S. agreed to its plan, which includes numerous concessions.
The president added that “the United States will, working with Iran, dig up and remove all of the deeply buried (B-2 Bombers) Nuclear ‘Dust.'”
The Iranian Supreme National Security Council’s statement on Tuesday included “acceptance of enrichment” in its 10-point plan.
Investors will likely pay close attention to a potential uptick in tanker traffic through the Strait of Hormuz.
Following Israeli attacks on Lebanon on Wednesday, oil tankers are suspended from passing through the strait, Iran’s semi-official Fars News Agency reported.
Typically, scores of ships carry a fifth of the world’s oil through the strait each day, but Iran effectively closed the passage over the course of the war. That oil shortage sent crude prices soaring, and it threatened far-reaching price increases that some economists feared could tip the U.S. economy into a recession.
ABC News’ David Brennan, Jon Haworth and Nadine El-Bawab contributed to this report.
raders work on the floor of the New York Stock Exchange during morning trading on March 10, 2026 in New York City. Stocks continued to slide at the opening due to the war in Iran and oil prices hovering around $90 per barrel. (Photo by Michael M. Santiago/Getty Images)
(NEW YORK) — Oil prices surged and stocks tumbled worldwide in early trading on Thursday as Iran escalated shipping attacks in a critical tanker route.
Global crude spiked above $100 a barrel on Thursday before settling slightly below that key benchmark. The rise in oil prices defied a U.S. effort hours earlier to reassure markets with an announcement of the second-largest ever release from the nation’s petroleum reserve.
A selloff hit Wall Street as traders feared economic fallout from a potentially prolonged bout of elevated oil prices.
The Dow Jones Industrial Average fell 550 points, or 1.1%, while the S&P 500 dropped 0.8%. The tech-heavy Nasdaq declined 0.8%.
Oil markets are suffering a major supply shortage due to the near-closure of the Strait of Hormuz, a trading route that facilitates the transport of about one-fifth of the global oil supply.
This is a developing story. Please check back for updates.
The all-new 2026 Kia K4 Hatchback is on display during the 2025 Los Angeles Auto Show at the Los Angeles Convention Center on November 21, 2025 in Los Angeles, California. (Josh Lefkowitz/Getty Images)
(NEW YORK) — If you’re looking for a new set of wheels next year, the choices can be overwhelming.
From 3-row SUVs to wagons and futuristic electric vehicles, buyers can select from a wide range of powertrains, prices and body styles.
Which models are already generating excitement in the industry? ABC News spoke to several insiders to get their take on the hottest vehicles headed to showrooms.
Mercedes-Benz CLA and GLB
The German automaker has a busy 2026 schedule planned with the launches of several newly updated models, including the CLA sedan, GLB SUV and the flagship S-Class.
Mercedes’ designers reimagined the interior of the GLB, which can be configured for five or seven passengers. The latest model offers greater comfort: headroom has increased as well as legroom for second-row passengers. A new panoramic roof is standard and owners can opt for a “floating” MBUX Superscreen that extends across the entire dashboard.
Buyers have three powertrains from which to choose. There’s a new 1.5-liter, inline-4 gasoline hybrid, and two electrics: the 250+ (268 horsepower) and 350 4MATIC (349 hp). The GLB can charge up to 260 kilometers (162 miles) of range in 10 minutes, according to Mercedes, and the hybrid version drives in electric-only mode at city speeds.
The latest CLA, available as an electric sedan ($47,250 for the 250+ and $49,800 for the 350 4MATIC) and hybrid, may be even more important for the luxury automaker. The entry-level car packs a ton of tech inside, making it “among the most intelligent vehicles from Mercedes-Benz to date,” according to the automaker.
The same four-cylinder turbocharged engine in the GLB powers the CLA220 hybrid, which is mated to an eight-speed dual-clutch transmission. A large, fixed panoramic glass roof in the CLA helps make the interior feel larger and more spacious. The CLA hybrid will be easy to spot at night: its radiator grille is adorned with the Mercedes‑Benz star pattern in chrome.
The electric CLA can travel 374 miles on a charge, according to Mercedes. Underneath the shell is an 800-volt electrical architecture, which allows the 48-volt lithium-ion battery to recoup roughly 200 miles in 10 minutes. DC fast charging up to 320 kilowatts (kW) is possible, too.
“It’s our vision for an EV to charge like fuel. We’re pushing the limits of what is possible with the CLA. Range anxiety will go away,” according to Markus Schäfer, a Mercedes board member and its chief technology officer.
The marque’s suite of advanced driver assistance systems is also available in the CLA models. Pricing for the GLB and CLA hybrid will be announced in 2026.
Kia K4 Hatchback
The K4 Hatchback, a stylish wagon that debuted in April, starts at $24,890 and will be available for sale in early 2026.
“I am so excited for it,” Robby DeGraff, manager of product and consumer insights at AutoPacific, told ABC News. “Hatchbacks might be making a comeback. It has a humongous cargo area and will be fun to drive. In terms of value, this should be a winner.”
A 2.0-liter engine produces 147 horsepower and 132 lb-ft of torque. For a sportier ride, consumers can choose the GT-Line Turbo model ($28,790); the 1.6-liter, turbocharged engine makes 190 hp and 195 lb-ft of torque.
The K4 Hatchback is also a new design for the Korean automaker and comes equipped with features like a heated steering wheel, Harman Kardon audio system and Digital Key technology that allows an owner’s smartphone to function as virtual key.
Degraff said Kia’s latest iteration of the Telluride SUV, now available with a hybrid powertrain, should also be popular with consumers.
“A hybrid Telluride is long overdue — we will see a big take rate for the hybrid version,” he said. “Losing the V6 [engine] will be a bummer for some people … there are shoppers out there that want a V6 in their 3-row SUVs. But the Telluride will be hit no matter what.”
According to Kia, the turbo hybrid powertrain adds more power and acceleration than the previous model: a combined 329 hp and 339 lb-ft of torque. The driving range is an estimated 600 miles. Kia’s flagship SUV, including the X-Line and X-Pro variants, go on sale in Q1 of 2026 and will be assembled at Kia’s plant in Georgia.
“The Telluride changed what Kia is,” according to Tony Quiroga, editor-in-chief of Car and Driver. “There was a ton of value in the first generation. The new Telluride looks more expensive than it will be and probably start around $40,000.”
“This version gives off a Range Rover vibe,” Quiroga added.
Subaru Outback
Subaru packed a ton of new tech in the latest Outback, including a 12.1-inch high-resolution infotainment screen and advanced driver assistance features. Drivers can now enable a Hands-Free Assist function that works at speeds up to 85 mph on highways.
The automaker is calling the 2026 Outback “the most connected and capable Subaru yet” with the “biggest styling updates in the model’s history.”
DeGraff said the SUV’s updated styling – a new front fascia, larger grille and boxier profile – could be “make or break” for consumers, but the amenities are a “good value” and Subaru still offers “the best all-wheel drive system in the entire industry.”
For Quiroga, the design changes make the Outback look more like a traditional SUV versus a lifted wagon.
“The latest Outback has the refinement and practicality of a wagon but is still very car-like. I see that as a plus,” he said.
The seventh-generation Outback starts at $34,995 for the Premium trim.
Chevy Bolt
The polarizing Chevy Bolt, one of the few affordable EVs to be sold in the U.S, will make its return as a 2027 model, though production will be limited.
The Bolt had both its fans and detractors; the unpretentious crossover won over motorists for its range and simplicity at an appealing price.
The latest trims – the Bolt RS and LT – will start under $30,000 and charge 2.5x faster than the previous model. Owners can expect to get 255 miles of range on a fully charged battery. The Bolt also is the first Chevy to be fitted with a NACS [North American Charging Standard] charging port. Deliveries begin in the first half of 2025.
“We really like the old Bolt, it had a ton of practicality,” said Quiroga. “The upcoming Bolt has a bit more range and a newer battery.”
Added DeGraff: “The 2027 Bolt is a clone of the outgoing one but it has more modern tech. It has all the safety features and Super Cruise. For budget shoppers who want to go electric, the Bolt is a home-run product.”
BMW iX3
The all-new iX3, BMW’s first series-production Neue Klasse model, goes on sale in summer of 2026 and will be a “hugely important vehicle” for the marque, according to Alistair Weaver, editor-in-chief of Edmunds.
The compact sport utility vehicle’s ($60,000) two-box design underwent a dramatic metamorphosis, with the latest iteration taller, longer, wider and more commanding. It also has a range of up to 400 miles, according to BMW. Plus, the company’s 800V architecture could be a game-changer for the industry: BWM said iX3 drivers can add nearly 175 miles of range in less than 10 minutes (it has a maximum charging rate of 400 kW). The vehicle’s dual-motor all-wheel drive powertrain makes 463 hp and 476 lb-ft of torque.
“Most EV owners are happy with 300 miles, but this will do 400, and it can recharge almost twice as fast as a Tesla,” Jared Rosenholtz, editor at large for CarBuzz, told ABC News. “Not only is range anxiety gone, but so is motion sickness. You can not feel the regen braking working in the iX3. It’s the smoothest braking I’ve ever felt in my decade of reviewing cars. All of this will be available for just over $60,000, not $100,000.”
A trader works on the floor at the New York Stock Exchange (NYSE) in New York, US, on Monday, April 6, 2026. Signs of last-ditch efforts to secure a truce in the war that has rattled global markets spurred a cautious advance in stocks as oil retreated. (Photographer: Michael Nagle/Bloomberg via Getty Images)
(NEW YORK) — Stocks soared and oil prices plunged in early trading on Wednesday, just hours after the U.S. and Iran announced a two-week ceasefire.
The Dow Jones Industrial average surged 1,215 points, or 2.6%, while the S&P 500 climbed 2.5%. The tech-heavy Nasdaq jumped 3.4%.
As part of the accord, Iran says it will allow tankers passage through the Strait of Hormuz, a vital shipping route for oil and gas, as long as they coordinate with the nation’s military. Investors appeared optimistic that the agreement would ease one of the worst global oil shortages in decades.
U.S. oil prices plummeted 18% on Wednesday, registering at about $92 a barrel. Still, the price of oil remained well above pre-war levels of about $67 a barrel.
President Donald Trump touted the ceasefire in a social media post on Wednesday, saying there would be “no enrichment of Uranium,” despite the Iranians claiming that the U.S. agreed to its plan, which includes numerous concessions.
The president added that “the United States will, working with Iran, dig up and remove all of the deeply buried (B-2 Bombers) Nuclear ‘Dust.'”
The Iranian Supreme National Security Council’s statement on Tuesday included “acceptance of enrichment” in its 10-point plan.
Investors will likely pay close attention to a potential uptick in tanker traffic through the Strait of Hormuz.
Typically, scores of ships carry a fifth of the world’s oil through the strait each day, but Iran effectively closed the passage over the course of the war. That oil shortage sent crude prices soaring, and it threatened far-reaching price increases that some economists feared could tip the U.S. economy into a recession.
ABC News’ David Brennan, Jon Haworth and Nadine El-Bawab contributed to this report.
