S&P, Nasdaq hit records
Social market chatter flagged record closes for the S&P 500 and Nasdaq, driven in part by easing US‑Iran tensions and a batch of strong quarterly results such as Morgan Stanley’s reported +1.2% and Bank of America’s +1% moves (x.com). Traders and commentators cited the mix of geopolitical relief and earnings momentum as contributors to the late session strength (x.com).
The Standard & Poor’s 500 and Nasdaq Composite closed at record highs on Wednesday, April 15, with investors buying stocks as oil prices fell and first-quarter earnings came in strong. (reuters.com) The Standard & Poor’s 500 rose 0.8% to 7,022.95 after touching 7,026.24 intraday, while the Nasdaq climbed 1.6% to 24,016.02 after reaching 24,026.56. The Dow Jones Industrial Average slipped 0.2%, leaving the rally concentrated in technology and other growth shares. (zacks.com) Reuters reported that traders were weighing developments in the United States-Iran conflict and shifting attention to corporate earnings, with optimism around talks helping sentiment late in the session. Yahoo Finance reported that oil fell as President Donald Trump signaled openness to further talks with Iran. (reuters.com) (finance.yahoo.com) That mix mattered because the market had spent weeks balancing war risk, sticky inflation and a new earnings season. By April 15, investors were treating lower oil prices and solid bank results as evidence that profits could keep growing even with geopolitical stress still unresolved. (cbsnews.com) (bloomberg.com) The Nasdaq’s move also extended a rare winning streak. MarketWatch said the index logged its best 11-day stretch in history, while Investopedia said it had closed higher for 11 straight sessions. (marketwatch.com) (investopedia.com) Bank earnings gave investors fresh numbers to work with before the opening bell. Bank of America reported first-quarter net income of $8.584 billion, earnings per share of $1.11 and revenue of $30.272 billion, up from $28.247 billion a year earlier. (bankofamerica.com 1) (bankofamerica.com 2) Morgan Stanley reported first-quarter diluted earnings per share of $3.43 on net revenues of $20.58 billion, and the bank said both figures were quarterly records. Reuters said the results were helped by stronger dealmaking and record equities-trading revenue. (morganstanley.com) (reuters.com) Before the cash open, Bank of America shares were up 1.2% and Morgan Stanley shares were also up 1.2%, according to Reuters. Later in the day, Reuters said Morgan Stanley ended up 1.2% and Bank of America gained 1.0%, matching the broader turn toward financial stocks. (reuters.com 1) (reuters.com 2) The new highs also pushed the Standard & Poor’s 500 back above 7,000 for the first closing time and lifted the Nasdaq above 24,000 for the first time at the close. Investors now turn to more first-quarter reports and any concrete change in United States-Iran talks to see whether the rally holds. (investopedia.com) (reuters.com)
