NEW YORK, New York -  U.S. stocks advanced on Wednesday after it was reported the United States had offered Iran a deal to end the war. A 15-point plan has reportedly been communicated to Iran via mediators in Pakistan. Iran says it rejects the plan but is open to dialogue. Oil prices fell on the development, spiking a move up in stocks and the dollar.

The Standard and Poor's 500 added 35.53 points to finish the session at 6,591.90, a gain of 0.54 percent. Trading volume on the index reached 2.893 billion shares. The benchmark index's session ranged between 6,568.41 and 6,633.94.

The Dow Jones Industrial Average climbed 304.39 points to close at 46,428.45, an advance of 0.66 percent. Blue-chip volume totaled 456.252 million shares as the Dow traded between an intraday low of 46,196.91 and a high of 46,718.42.

Technology stocks outperformed, lifting the NASDAQ Composite by 167.93 points to end at 21,929.83, a rise of 0.77 percent. More than 6.154 billion shares changed hands on the Nasdaq.

U.S. Dollar Rebounds Wednesday as Yen Slumps, Commodity Currencies Slide

The U.S. dollar traded on a solid footing against its major counterparts on Wednesday, gaining ground against the euro and the British pound , the yen, th Australian, Canadian and New Zelasnd dollars, and the Swiss franc.

The euro weakened against the greenback, with the EUR/USD pair declining by 0.36 percent to settle at 1.1564. The British pound also lost ground; GBP/USD slipped 0.35 percent to close at 1.3364. Meanwhile, the dollar extended gains against its North American neighbor, pushing USD/CAD up by 0.38 percent to 1.3814.

The dollar found further support against the Swiss franc, with USD/CHF rising 0.45 percent to end the session at 0.7917.

In contrast, the Japanese yen strengthened broadly, driving USD/JPY lower by 0.50 percent to 159.47, marking a notable reversal for the pair.

Commodity-linked currencies faced a tougher session. The Australian dollar dropped 0.66 percent against the US dollar, with AUD/USD finishing at 0.6947, while the New Zealand dollar fell 0.47 percent to close at 0.5807.

Global Markets Rally on Wednesday; European and Asian Indices Post Broad-Based Gains

Stocks rallied across Canada, the UK, Europe and Asia on Wednesday, with major indices closing firmly in positive territory as investor sentiment improved across the board. From Toronto, to Frankfurt to Tokyo, benchmarks recorded significant gains, driven by broad-based buying and a positive risk-on mood.

The UK and European markets saw a strong session, with the FTSE 100 in London climbing 141.68 points to close at 10,106.84, an increase of 1.42 percent. Germany's DAX P was also sharply higher, advancing 320.17 points to finish the day at 22,957.08, a gain of 1.41 percent. In France the CAC 40 added 102.63 points to settle at 7,846.55, marking a rise of 1.33 percent.

The broader Eurozone indices mirrored the positive trend. The EURO STOXX 50 I gained 68.04 points to end at 5,649.33, up 1.22 percent, while the Euronext 100 Index rose 22.59 points to close at 1,741.24, an increase of 1.31 percent. Belgium's BEL 20 outperformed its regional peers, soaring 107.98 points, or 2.18 percent, to finish at 5,052.97.

Canadian equities also saw strong gains. The S&P/TSX Composite Index surged 441.01 points to close at 32,382.60, marking an increase of 1.38 percent on volume of 311.964 million shares.

Asian markets also closed with substantial gains. In Japan, the Nikkei 225 surged 1,497.34 points to a closing level of 53,749.62, a robust advance of 2.87 percent. Hong Kong's HANG SENG INDEX added 272.24 points to settle at 25,335.95, a gain of 1.09 percent, while South Korea's KOSPI Composite Index rose 88.29 points to close at 5,642.21, up 1.59 percent.

Elsewhere in the Asia-Pacific region, Australia's S&P/ASX 200 advanced 154.90 points to finish at 8,534.30, a gain of 1.85 percent, with the broader ALL ORDINARIES index climbing 174.00 points, or 2.03 percent, to 8,745.30. New Zealand's S&P/NZX 50 INDEX GROSS added 227.55 points to end at 12,929.30, up 1.79 percent.

In Southeast Asia, Singapore's STI Index rose 42.11 points to 4,904.54, a gain of 0.87 percent. The FTSE Bursa Malaysia KLCI moved higher by 7.92 points, or 0.46 percent, closing at 1,716.68, while Indonesia's IDX COMPOSITE posted one of the strongest gains of the day, surging 195.28 points to end at 7,302.12, an increase of 2.75 percent.

In India, the S&P BSE SENSEX jumped 1,205.00 points to close at 75,273.45, a solid gain of 1.63 percent. Taiwan's TWSE Capitalization Weighted Stock Index also saw significant upward movement, rallying 826.87 points to finish at 33,439.11, up 2.54 percent.

Meanwhile, the SSE Composite Index in mainland China added 50.56 points to settle at 3,931.84, a rise of 1.30 percent, on volume of 114.886 million.

Elsewhere, in the Middle East, the TA-125 in Israel rose 35.19 points to 4,205.62, an increase of 0.84 percent. Egypt's EGX 30 Price Return Index advanced 567.00 points to close at 47,497.90, a gain of 1.21 percent on turnover of 444.905 million.

In South Africa the Top 40 USD Net TRI Index led all gainers with a jump of 282.87 points, or 4.37 percent, closing at 6,758.81.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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