U.S. stocks surged late at night, with the Dow jumping 1,100 points, and the Iranian president expressed willingness to cease hostilities.

Ask AI · Is the U.S. stock market’s surge related to signals of geopolitical easing?

On March 31, U.S. Eastern Time, all three major U.S. stock indexes closed sharply higher, with the Dow rising by more than 1,100 points, up 2.49%; the Nasdaq jumping 3.83%; and the S&P 500 rising 2.91%, with each posting its biggest single-day gain since May last year. Tech and chip stocks surged: the China GDR Dragon Index rose by nearly 3%; international gold and silver rallied—silver rose by more than 7%, and gold rose by more than 3%; international crude oil fell by more than 3%.

The seven big U.S. tech stocks all surged together, with META up 6.67%, Nvidia and Google up more than 5%, and Tesla up 4.6%.

With chip stocks surging, the Philadelphia Semiconductor Index rose by more than 6%. Mawiir Technology rose by nearly 13%, SanDisk rose by nearly 11%, ARM rose by more than 10%, Western Digital rose by more than 7%, TSMC rose by 6.7%, and Micron Technology rose by nearly 5%.

According to a report by China Securities Journal, recently, large technology stocks have continued to suffer steep declines, and the Nasdaq 100 index has fallen into a pullback range. However, there are also some signs—based on past experience, these signs often indicate that the sector is about to turn. The most core signal is that the valuation premium of large technology stocks versus other market sectors has shrunk significantly. From a historical perspective, after this kind of valuation compression, the sector often manages to outperform the broader market.

Chinese concept stocks surged, with the Nasdaq China Golden Dragon Index up 2.8%. Wenyan Zhixing rose by more than 13%, Moxiao Zhixing rose by more than 10%, Huya and NIO rose by more than 9%, and iQIYI rose by 6.7%.

China concept tech leaders rose across the board, with Baidu up 4.5%, Pinduoduo up nearly 4%, Tencent Holdings up more than 3.5%, and Alibaba, BYD Co., Ltd., and JD.com all up more than 2%.

Gold stocks jumped, with Harmony Gold up more than 8%. Airline stocks strengthened and energy stocks pulled back: United Continental Airlines Holdings rose by more than 8%, American Airlines and Delta Air Lines rose by more than 5%, while Occidental Petroleum and Chevron fell by nearly 2%.

Spot gold and silver surged strongly overnight: gold rose by more than 3.5%, pressing toward the $4,700 level, and silver rose by more than 7%, climbing to above $75. This morning’s opening continued the rally; as of the time of this writing, spot gold was quoted at $4,681 per ounce, and spot silver at $75.3 per ounce.

International oil prices fell back. U.S. crude and Brent both saw a short-term plunge overnight: New York-traded crude oil was quoted at $102 per barrel, up 0.66%, while Brent crude fell 3.59% to $103.5 per barrel.

On the news front, according to CCTV News, Iranian President Pezeshkian said Iran is willing to end the war, but only if its demands are met—especially guarantees that it will not be subjected to aggression again.

Also, according to Xinhua News Agency, U.S. President Trump said on the evening of March 31 at the White House that the United States will end its war with Iran within “two to three weeks,” and an agreement with Iran could be reached before that.

According to CCTV News, Jeff Schmidit, president of the Federal Reserve Bank of Kansas City, said that due to the increase in energy prices triggered by the U.S.-Iran conflict, U.S. inflation may stay at a higher level for a longer time, approaching 3%. Schmidit pointed out that the rise in oil prices occurred against a backdrop where inflation is “already too high and has persisted for too long,” and the U.S. Federal Reserve should not simply assume that inflation caused by higher energy prices is temporary.

(Statement: The content of this article is for reference only and does not constitute investment advice. Investors act on their own judgment and bear the associated risks.)