U.S. markets hit records
U.S. stock indices pushed to fresh highs as optimism around Middle East talks and corporate earnings returned, with reports saying the S&P 500 has recovered losses since the start of the U.S.–Iran war. Coverage notes investors are increasingly treating an end to the conflict as more likely, and that sentiment helped equities close at record levels. (reuters.com) (nytimes.com)
U.S. stocks closed at record highs on April 15, with investors betting the Iran war is more likely to wind down than widen. (cnbc.com) The Standard & Poor’s 500 rose 0.8% to 7,022.95 and the Nasdaq Composite climbed 1.59% to 24,016.02, both record closes. The Dow Jones Industrial Average fell 72.27 points, or 0.15%, to 48,463.72. (cnbc.com) Reuters reported the Standard & Poor’s 500 also set an intraday record at 7,026.24 and finished above its previous January peak. The index had fallen as much as 9% after hostilities began on February 28. (usnews.com) Markets turned after investors started treating renewed Washington-Tehran talks as plausible again. President Donald Trump said on April 15 that the war was “very close to over,” and a White House official told CNBC a second round of negotiations was under discussion. (cnbc.com) Oil prices had been the market’s main warning sign because a wider war could disrupt shipments through the Strait of Hormuz, a major route for global crude. As talk of diplomacy returned this week, traders pushed back into stocks and away from some of the war hedges they had built in March. (cnbc.com) The rebound also leaned on earnings season. Reuters said analysts now expect Standard & Poor’s 500 companies to earn a combined $605.1 billion in the first quarter, up from a $598.7 billion estimate at the start of the quarter, and bank executives said consumer spending and deal activity had held up. (usnews.com) Technology shares added force to the move. CNBC said the Nasdaq posted its 11th straight gain, while Broadcom rose 4% after Meta Platforms extended a partnership tied to custom artificial intelligence chips. (cnbc.com) The rally does not mean the war risk is gone. Reuters said any renewed escalation could test the market’s confidence again, even after the Standard & Poor’s 500 erased all of its losses from the conflict and pushed to a fresh high. (usnews.com)
