US President Donald Trump will address the nation at 9 p.m. Eastern Time on Wednesday to provide updates on the US-Iran war. Market expectations for an end to the conflict have continued to rise. US equities extended gains on Wednesday. The DJIA closed up 224 points, or 0.5%, at 46,565; the S&P 500 rose 46 points, or 0.7%, to 6,575; while the Nasdaq again led the advance, climbing 250 points, or 1.2%, to 21,840.

Although Iran threatened to attack US technology companies operating in the Middle East, shares advanced as the likelihood of a US-Iran ceasefire increased. Alphabet (GOOG.US) gained 2.8%, while NVIDIA (NVDA.US) rose 0.8%. Intel (INTC.US) announced it would repurchase its stake in an Irish chip plant for USD14.2 billion, sending its shares soaring nearly 9%. Tesla (TSLA.US) added 2.6%.

Oil prices retreated and fell below USD100, pressuring energy stocks. Chevron (CVX.US) and Exxon Mobil (XOM.US) both declined 5%.

Among individual stocks, Nike (NKE.US) reported weaker-than-expected revenue in North America for the previous quarter, with its shares plunging 15.5%, marking the worst single-day performance in nearly a year. Eli Lilly surged nearly 4% at close after the FDA approved its GLP-1 drug. (me/s)~


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