(Il Sole 24 Ore Radiocor) - Milano, 1 apr - US shares were trading higher to build on yesterday's rally as US president Donald Trump talked up the chances of a ceasefire in the war in Iran.

Trump, who has signalled his willingness to end the war even if the Strait of Hormuz remains largely shut, said yesterday the conflict won't last "much longer." In comments today Trump said Iran's president had asked the US for a ceasefire. "We will consider when Hormuz Strait is open, free, and clear," he said.

Iranian state media reported comments by president Masoud Pezeshkian that Iran has "the necessary will to end this war".

Trump is due to deliver a speech to the nation later today to give an update about the war.

Also helping, data showed that factory activity expanded more than expected in March.

The Institute for Supply Management's manufacturing index rose to 52.7 in August from 52.4 the previous month, topping expectations for a reading of 52.3. The overall economy continued in expansion for the 17th month in a row.

On the stocks front, shares in Nike were down 14.14% after the sneaker company warned of falling sales head while RH shares slumped 23% after the home-furnishings company missed expectations.

While shares of Intel jumped 9.59% after the chip company said that it will repurchase a 49% stake in its Irish plant joint venture from Apollo for 14.2 billion dollars.

At 1731 GMT, the Dow Jones was up 450.36 points, or 0.97%, at 46,791.87points.

The S&P 500 was 79.78 points, or 1.22%, higher at 6,608.30 points.

The Nasdaq was gaining 374.96 points, or 1.74%, at 22,965.59.

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(RADIOCOR) 01-04-26 19:47:51 (0740) 5 NNNN