NEW YORK, New York -  U.S. stocks staged a dramatic turnaround on Thursday, regaining most of the ground lost on the inflation surge report a day earlier.

Driving the rebound was a series of comments from U.S. President Donald Trump, who said a deal with Iran was near. The president said the deal was in the documentation stage and signing would be near. Markets have moved significantly in response to similar claims by the president that a deal was near. CNN on the weekend reported at that point that Mr Trump had made the claim 39 times.

On Wednesday both the U.S. and Iran carried out strikes, and it appeared the ceasefire between the two was at risk. This contributed to Wednesday's dramatic slide in stocks, with the Dow Jones plummeting 953 points.

However, on Thursday the bulls were back in business.

The Dow Jones Industrial Average surged 929.97 points, or 1.86 percent, to end at 50,848.75.

The broad-based Standard and Poor's 500 climbed 127.31 points, or 1.75 percent, closing at 7,394.30, while the tech-heavy NASDAQ Composite outpaced its peers with a gain of 640.16 points, or 2.54 percent, finishing at 25,809.66. Trading volume was robust, with 3.496 billion shares changing hands on the S&P 500.

Global stock markets delivered a powerful performance on Thursday.

Canada's S&P/TSX Composite index jumped 520.14 points, or 1.52 percent, to 34,671.46. 

The FTSE 100 in London added 49.07 points, or 0.48 percent, to settle at 10,303.88. 

European markets also finished in positive territory, though gains were more measured.

France's CAC 40 rose 38.97 points, or 0.48 percent, ending at 8,200.80.

The DAX P in Germany eked out a gain of 14.40 points, or just 0.06 percent, to close at 24,209.71.

The pan-European EURO STOXX 50 I advanced 47.01 points, or 0.78 percent, to 6,056.96, while the Euronext 100 Index added 1.17 percent to reach 1,884.48. Belgium's BEL 20 rose 0.86 percent to 5,646.87.

In the Asian region, results were mixed. Japan's Nikkei 225 posted a fractional gain, rising 38.00 points, or 0.06 percent, to 64,217.27.

South Korea's KOSPI Composite Index climbed 33.13 points, or 0.43 percent, to 7,763.95.

Singapore's STI Index advanced 29.25 points, or 0.59 percent, closing at 4,988.10. Malaysia's FTSE Bursa Malaysia KLCI was virtually flat, adding just 0.03 percent to finish at 1,679.53.

However, several major indexes ended lower. Hong Kong's HANG SENG INDEX fell 158.67 points, or 0.65 percent, to 24,249.29.

Australia's S&P/ASX 200 dropped 20.10 points, or 0.23 percent, to 8,633.20, with the broader ALL ORDINARIES also down 0.23 percent at 8,836.70.

S&P BSE SENSEX slipped 150.63 points, or 0.20 percent, to 73,832.55. Indonesia's IDX COMPOSITE lost 0.28 percent, closing at 5,886.03, and New Zealand's S&P/NZX 50 declined 0.39 percent to 13,202.16.

Taiwan's TWSE edged down 0.18 percent to 43,149.46, while China's SSE Composite Index fell 0.16 percent to 3,987.01.

Elsewhere, in the Middle East, Israel's TA-125 rallied 1.69 percent to 4,209.41, while Egypt's EGX 30 Price Return Index declined 0.85 percent to 50,818.80.

In Africa, the South African Top 40 USD Net TRI Index gained 0.75 percent, finishing at 6,660.55.

Investors appeared to shrug off earlier concerns about inflation, instead focusing on strong corporate earnings and hopes that central banks may ease monetary policy in the coming months. Technology stocks were the clear winners, driving the Nasdaq's outsized gain.

FOREX MARKET UPDATE: U.S. Dollar Slides as Traders Digest Rate Expectations – Thursday Close

The global foreign exchange market saw measured moves on Thursday, with the U.S. dollar posting a weaker performance against major counterparts as traders weighed shifting monetary policy signals.

The euro strengthened against the greenback, with EUR-USD trading at 1.1579, gaining 0.38 percent on the session. The move reflected improved risk sentiment in European trading hours, despite lingering concerns over regional economic growth.

Against the Japanese yen, the yen advanced firmly. USD-JPY settled at 159.7800, falling 0.48 percent.

Sterling also gained ground. GBP-USD was quoted at 1.3417, climbing 0.37 percent, helped by better-than-expected U.K. services data and a generally softer tone in the U.S. dollar index during London trade.

The Australian dollar posted the strongest advance among the majors. AUD-USD jumped to 0.7050, a gain of 0.73 percent. The risk-sensitive currency benefited from a rebound in commodity prices and broad-based dollar selling in the afternoon session.

In North America, the U.S. dollar edged higher against its Canadian counterpart. USD-CAD rose to 1.3960, adding 0.12 percent, as oil prices pared earlier gains. The slight move higher came despite a generally weaker dollar elsewhere, suggesting some hedging flows ahead of Friday's Canadian jobs report.

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

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