A 'sigh of relief rally' | Oil falls after surge | Ghosn CNBC interview

Stocks staged a recovery after it appeared tensions had cooled between Iran and the U.S.

VIEW IN BROWSER | SUBSCRIBE WED, JAN 08, 2020 EVENING BRIEF AS OF WED, JAN 08, 2020 • 04:26 ET DJIA 28745.09 +0.56% +161.41 S&P 500 3253.05 +0.49% +15.87 NASDAQ 9129.24 +0.67% +60.66   Most Active DOW NAME LAST CHG %CHG AAPL 303.19 +4.80 +1.61% MSFT 160.09 +2.51 +1.59% CSCO 47.52 +0.03 +0.06% S&P 500 NAME LAST CHG %CHG AMD 47.83 -0.42 -0.87% GE 11.94 -0.11 -0.91% F 9.25 UNCH UNCH NASDAQ NAME LAST CHG %CHG AMD 47.83 -0.42 -0.87% AAPL 303.19 +4.80 +1.61% TSLA 492.14 +23.08 +4.92% EDITOR'S NOTE Phew, that was scary.   Stocks rallied Wednesday after taking a 400 point nosedive in overnight trading following Iran's attack on Iraqi air bases.  There were no reported casualties, oil infrastructure wasn't targeted and President Donald Trump didn't escalate with another military action.    Investors reacted with "a sigh of relief rally," said Art Cashin, director of floor operations at the NYSE for UBS, on CNBC's "Squawk Alley."   Well, that was quick. Perhaps too quick. But U.S. conflicts with Iran haven't had lasting effects on stocks, writes CNBC's Fred Imbert. Usually, within a week or six months, stocks are higher after  initial hostilities.   Oil prices also made a remarkable round trip. They surged on initial reports of the attack, but the spike didn't last with West Texas Intermediate crude falling below $60 a barrel on Wednesday.   The world remains awash in oil, and many believe the U.S. no longer needs to tread lightly in the Middle East to keep the fuel flowing.   "We are independent," Trump said Wednesday, "and we do not need Middle East oil."     Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.   Al Lewis | CNBC Markets Editor @tellittoal TOP NEWS  Stocks rise after Trump's comments on Iran attack sparks 'sigh of relief rally' Wall Street usually shakes off volatility from US-Iran conflicts, history shows Oil sinks 5% under $60, after Trump says Iran is 'standing down' in Middle East fight Trump says US will hit Iran with 'punishing economic sanctions' after attacks on Iraqi bases Why markets are ignoring the idea of a bigger conflict between the U.S. and Iran, for now Grubhub shares surge on report the company is exploring a sale SoftBank-backed Zume is laying off half its staff and shuttering its pizza delivery business The shortage of homes for sale is getting much worse, even in luxury Fugitive former Nissan exec Carlos Ghosn feared he would 'die in Japan' if he didn't escape Apple's story is shifting thanks to the massive success of AirPods     TOP VIDEO Watch CNBC's full interview with fugitive and former Nissan exec Carlos Ghosn   CNBC PRO Beyond Meat shares could be worth $130 with broader McDonald's partnership, says Bernstein   SPECIAL REPORTS 'Too late to buy, but too early to sell': Traders grapple with Tesla's roaring run Here's why Netflix may have a major January rally   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS