<\/p>\n
\n\tThe world breathed a tentative sigh of relief \u2014 and stock markets went on a run \u2014 after a two-week ceasefire halted hostilities in Iran and reopened the Strait of Hormuz, a vital passageway for the global oil market.\u00a0<\/p>\n
\n\tThe Dow Jones Industrial Average shot up 3.1 percent, or 1,421.66 points, to 48,006.12 in the early minutes of trading on Wednesday. Markets were up more than 4 percent in Frankfurt, Paris and Milan and ahead 2.8 percent in London.\u00a0<\/p>\n
\n\tIn fashion, most of the biggest gains were seen in Europe, although Levi Strauss & Co. was buoyed as well by strong first-quarter results and saw its stock jump 12.3 percent to $22.28 in morning trading.\u00a0<\/p>\n
\n\tThe other big gainers included Compagnie Financi\u00e8re Richemont, up 8.7 percent to 152.75 Swiss francs; On Holding, 8.4 percent to $35; Kering, 8.4 percent to 278.45 euros; Birkenstock Holding, 8.3 percent to $37.56; Herm\u00e8s International, 8.2 percent to 1,784 euros; Under Armour Inc.,\u00a08.2 percent to $6.23; E.l.f. Beauty Inc., 8 percent to $65.84; LVMH Mo\u00ebt Hennessy Louis Vuitton, 8 percent to 504.70 euros; Capri Holdings, 7.9 percent to $19.69; Tapestry Inc., 7.7 percent to $151.7, and VF Corp., 7.3 percent to $18.13.<\/p>\n
\n\tThe global tension broke after U.S. President Donald Trump backed away from his threat that \u201ca whole civilization will die tonight\u201d in Iran, which the U.S. and Israel attacked on Feb. 28 in an effort to defang its authoritarian government.\u00a0<\/p>\n
\n\tOil and gasoline prices shot up around the world after the war started, threatening to derail the global economy and making already on-edge consumers all that more hesitant.\u00a0<\/p>\n
\n\tA gallon of regular in the U.S. is selling for an average of $4.16, an increase from $3.45 a month ago, according to AAA. That\u2019s hit consumer confidence, which fell 6 percent in March, according to University of Michigan\u2019s Surveys of Consumers.\u00a0<\/p>\n
\n\tEven if the Strait of Hormuz stays open and war does not flare back up, it is expected to take months for the oil market to resettle.\u00a0<\/p>\n
\n\tBut that best-case scenario seems much more possible today \u2014 and investors are going to celebrate the good times while they can.<\/p>\n
#Fashion #Stocks #Surge #Iran #Ceasefire #Market #Rally<\/p>\n","protected":false},"excerpt":{"rendered":"
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