The resolution of the Iran hostage crisis helped boost the US stock market and may have helped avoid a recession, according to BlackRock Merrill Lynch.
Last week the Dow Jones Industrial Average, the S&P 500 Index, and the Nasdaq Composite all rose by an average of almost 2%. A total of 15 captured British sailors and marines were released last weekend after almost a fortnight in custody in Iran. Bob Doll, vice-chairman and chief investment officer for global equities at BlackRock, claims their release helped boost trade activity in the US and improved market performance. “The US stock market seems to be following a pattern of one week being up and the next being down,” he says. “But last week was definitely an up week. Market sent...
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