05:42 PM EDT, 03/31/2026 (MT Newswires) -- (Updates with Abbas Araghchi's position in the third paragraph.)

US equity indexes jumped on Tuesday, with the Dow Jones Industrial Average surging more than 1,125 points and the Nasdaq Composite catapulting almost 800 points, amid optimism that the Iran war is about to end.

The Nasdaq Composite jumped 3.8% to 21,590.63, with the S&P 500 up 2.9% to 6,528.52 and the Dow Jones Industrial Average higher by 2.5% to 46,341.51. Communication services, technology, and consumer discretionary led the outperformers as all Magnificent-7 stocks rose at the close. Energy and utilities were the sole decliners.

Iranian Foreign Minister Abbas Araghchi said Iran is not seeking a ceasefire but a complete end to the war across the region, stressing that any resolution must include guarantees against future attacks and compensation for damages, Turkey's Anadolu Agency reported Tuesday.

US President Donald Trump signaled that the Iran conflict may end soon, with the Strait of Hormuz expected to reopen, according to multiple media reports on Tuesday.

Trump told the New York Post in a phone interview that countries relying on the route should step in, stating the waterway will "automatically open" once US forces exit. He added that US operations are ongoing but nearing completion, saying, "we're not going to be there too much longer."

West Texas Intermediate crude oil futures fell 1.2% to $101.65, and Brent crude futures slid 2.5% to $104.69.

In economic news, US job openings fell to 6.882 million in February, according to the Bureau of Labor Statistics, below the 6.890 million openings expected in a survey compiled by Bloomberg and down from the 7.240 million openings reported in January. Hiring fell to 4.849 million from 5.347 million in January, decreasing the hiring rate to 3.1% from 3.4%.

The Institute for Supply Management's Chicago PMI sank to 52.8 in March from 57.7 in February, compared with the 55.0 expected in a Bloomberg-compiled survey.

Most US Treasury yields fell, with the two-year down 3.7 basis points to 3.79% and the 10-year lower by 2.3 basis points to 4.32%.

The CME FedWatch tool showed on Tuesday that the probability of the Fed easing interest rates by 25 basis points jumped across its June to December meetings, compared with a day and a week ago.

In precious metals, gold futures jumped 3.2% to $4,668.5 and silver futures surged 6.9% to $75.42.

"Gold trades higher for a third consecutive session ... supported by comments from Fed Chair [Jerome] Powell [on Monday] that helped ease rate-hike concerns," Saxo Bank said in a note, referring to Powell's telling Harvard University students that US inflation expectations remain well anchored after an expected short-term price shock from the conflict in Iran.

In US company news, Nvidia ( NVDA ) said Tuesday it has invested $2 billion in Marvell Technology ( MRVL ) as part of a strategic partnership. Shares of Nvidia ( NVDA ) were up 5.6%, the top gainer on the Dow. Marvell ( MRVL ) jumped 13%, the biggest outperformer on the Nasdaq.

McCormick ( MKC ) agreed to combine with Unilever's ( UL ) food business in a deal that values the London-based consumer goods giant's unit at about $44.8 billion. Shares of McCormick ( MKC ) slumped 6.1%, among the steepest decliners on the S&P 500.