US Stocks Rise 0.5% on Ceasefire Hopes

US equity indices closed higher on Monday, with the S&P 500 up 0.4% to 6,611.29, Nasdaq up 0.5% to 21,996.34, and Dow up 0.4% to 46,669.39.
President Donald Trump reiterated a Tuesday 8 pm ET deadline for Iran to reopen the Strait of Hormuz, threatening massive strikes if the deadline is missed.
Oil prices rose, with Brent crude at $109.39 (+0.3%) and WTI at $112.40 (+0.8%), sustaining global inflation pressures.
US March nonfarm payrolls added 178,000 jobs, far above the 60,000 forecast, supporting expectations that the Fed may wait before tightening.