Wall Street Rises 1.2% on Iran Talks

Wall Street indices jumped, with the S&P 500 up 1.2% to 6,967.63, Nasdaq +1.9% to 23,620.61, and Dow +0.8% to 48,581.94.
March U.S. producer price index rose 0.5% MoM and 4.0% YoY, missing forecasts of 1.1% and 4.6%; core PPI +0.1% MoM, 3.8% YoY.
JPMorgan and Citi posted quarterly profit and revenue beats, while Wells Fargo missed revenue expectations, moving their stocks -0.4%, +2.5% and -4.9% respectively.
Oil prices fell, Brent down 4.4% to $95.03/barrel and WTI down 7.3% to $91.88/barrel; a U.S. blockade of the Strait of Hormuz halted ship traffic.