Dow surges 900 points after Trump cancels Iran strikes

The Dow Jones Industrial Average closed with a 900 point boost Thursday after President Donald Trump canceled strikes on Iran and teased a looming peace agreement.

All three major stocks saw a boost after the president's decision, with the Dow Jones closing at 50,848.75 points, according to CNBC, which is a 1.86% increase from its opening. 

The Nasdaq Composite added 2.54% to 25,809.66 points, while the S&P 500 gained 1.75% to close at 7,394.30 points.

The moves come after Trump announced he had spoken with the Iranian government, which agreed to unspecified terms, though the president said it included a ban on nuclear weapons for Iran. 

"Most importantly, we have a deal that Iran will never have a nuclear weapon, which was the whole purpose of what we had to go through to get this," Trump told reporters, adding that a deal signing would occur "soon."

Trump renewed strikes on Iran this week in the wake of the Iranian downing of an Apache helicopter.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.