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US Stock Market Live Updates: Stocks moved higher on Wednesday, while oil prices fell at the start of the month, as optimism grew that the US-Iran conflict could be nearing a resolution.The S&P 500 rose 0.5%, while the Nasdaq Composite climbed 0.8%. The Dow Jones Industrial Average gained 185 points, or 0.4%.In a post on Truth Social, President Donald Trump said Iran’s president has sought a ceasefire, but added that the US would only consider it once the Strait of Hormuz is “open, free, and clear.” He also warned that “until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!”HSBC Global Investment Research upgraded Bank of America to “buy” from “hold,” citing its attractive valuation and solid earnings outlook.The brokerage, however, trimmed its price target to $55 from $57 to reflect “higher costs of equity on the back of greater macro uncertainties.”HSBC said Bank of America’s leadership across financial services, above-average EPS growth prospects, and strong credit track record are not fully reflected in its current valuation.The note added that expectations for multi-year return on equity expansion are now less clearly priced in, as investors grow more cautious about macro risks, including slower growth, higher inflation, and credit exposure to non-bank financial institutions and private credit.US stocks opened higher on Wednesday, with all three major indexes trading in positive territory at the start of the session.The S&P 500 gained 0.6% shortly after the opening bell, while the Nasdaq Composite rose 0.7%. The Dow Jones Industrial Average advanced 363 points, or 0.8%, in early trading.

Oil prices eased on Wednesday morning after fresh signals from Washington and Tehran hinted at a possible path toward ending the conflict, now in its fifth week.

Brent crude futures, the global benchmark, fell about 2.2% to trade near $101.70 per barrel. Meanwhile, US benchmark West Texas Intermediate (WTI) crude dropped roughly 2.1%, slipping back below the key $100 mark to around $99.30 per barrel.

The pullback comes amid a wave of headlines suggesting both Iran and the US may be open to de-escalation, raising hopes that the prolonged conflict could be nearing a turning point.US retail sales rose more than expected in February, underscoring the resilience of consumer spending just before the onset of the Iran war.Sales increased 0.6% month-on-month, rebounding from a 0.1% decline in January and coming in above Wall Street expectations of a 0.5% gain, according to Bloomberg data. On an annual basis, retail sales were up 3.7%.Core retail sales, which exclude autos, climbed 0.5% in February — stronger than both January’s flat reading and forecasts for a 0.3% increase. Year-on-year, this measure rose 3.6%.Meanwhile, gasoline sales fell 0.7% from a year earlier in February, the last full month before the impact of the Iran war — which began with US and Israeli airstrikes on February 28 — is expected to start reflecting in economic data.

Private sector hiring came in stronger than expected in March, even as job gains edged slightly lower on a monthly basis, according to data from ADP.

Companies added 62,000 jobs during the month, down marginally from February’s revised 66,000 but well above economists’ expectations of 40,000.

Hiring was evenly split across sectors. Goods-producing industries contributed 30,000 jobs, with robust gains in construction offsetting continued weakness in manufacturing, which shed 11,000 roles. Meanwhile, service-providing sectors added 32,000 jobs, as a sharp decline in trade, transportation and utilities was balanced by strong hiring in education and healthcare, along with modest gains elsewhere.

Wage growth remained steady, with pay for job stayers rising 4.5% year-on-year for a third straight month. Those switching jobs saw higher increases, with wages climbing 6.6%.

“Overall hiring is steady, but job growth continues to favor certain industries, including health care,” said Nela Richardson, chief economist at ADP.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.