India, April 9 --  US equities turned positive by midday on Thursday, building on Wednesday's massive rally, as investors looked past a fresh spike in crude oil prices. The Dow Jones Industrial Average rose over 250 points, while the S&P 500 and Nasdaq Composite gained more than 0.5%. Markets initially opened lower on reports that Iranian forces may have mined the Strait of Hormuz, but midday optimism that a diplomatic solution remains possible helped stocks regain their footing. This resilience, despite oil jumping back above $100 per barrel, signals that traders are betting the two-week ceasefire between the U.S. and Iran will hold.

U.S. Market Snapshot

Dow Jones

The Dow rose 263 points to 48,172.88, recovering from a cautious s...