S&P, Nasdaq rally

U.S. stocks surged again on Wednesday, April 22, sending the S&P 500 and Nasdaq Composite to fresh closing records as traders bet the Iran ceasefire would hold. (reuters.com) The S&P 500 rose 1.1% to 7,197.87, the Nasdaq gained 1.6% to 25,128.63, and the Dow Jones Industrial Average added 1.1% to 46,513.28, according to Reuters and CNBC market coverage from the close. (reuters.com) (cnbc.com) The immediate catalyst was President Donald Trump’s decision to extend a two-week ceasefire with Iran, which eased fears of a wider conflict and helped keep the recent drop in oil prices from reversing. (reuters.com) (investopedia.com) The rally did not start on Wednesday. The Nasdaq had already logged 13 straight gains by April 17, its longest winning streak since January 1992, according to Dow Jones Market Data as reported by The Wall Street Journal and CNBC. (wsj.com) (cnbc.com) That streak reflected more than geopolitics. Reuters reported that investors who had stayed cautious during the Iran fighting were moving back into equities as artificial-intelligence spending and a stronger-than-expected start to first-quarter earnings revived fear of missing out. (reuters.com) Analysts cited concrete numbers behind that shift: first-quarter S&P 500 earnings were on track to grow about 14%, while estimates for the second half of 2026 had also moved higher, Reuters reported. (reuters.com) Technology shares remained the center of the move. CNBC said semiconductor stocks helped power Wednesday’s advance, and Reuters said investors were treating the combination of lower war risk and durable AI demand as a reason to pay higher prices for growth stocks. (cnbc.com) (reuters.com) The market’s rebound has been fast. Bloomberg reported that the S&P 500 had been near correction territory in late March as the Iran war pushed up oil prices and inflation expectations, then climbed back to records within weeks as ceasefire optimism spread. (bloomberg.com) Not everyone sees the advance as settled. Reuters said some executives and investors still view oil near $100 a barrel and any renewed disruption in the Strait of Hormuz as risks that could quickly test the rally. (reuters.com 1) (reuters.com 2) For now, the market is trading as if the worst-case geopolitical scenario has been pushed back, and that has been enough to put the S&P 500 and Nasdaq back at all-time highs. (reuters.com 1) (reuters.com 2)