Wall Street sank on Iran war fears. Now it’s surging. Here’s why
US stocks have rallied over the past two weeks, erasing losses related to the US-Iran conflict, with the S&P 500 gaining 10% and hitting a fresh record high. The rally is driven by optimism about a ceasefire and a pullback in oil prices.
US stocks have surged over the past two weeks, with the S&P 500 gaining 10% and erasing losses tied to the US-Iran conflict. The index rose 0.5% on Wednesday, hitting a fresh intraday record high of 7,003.82 points. Investors have become optimistic about a US-Iran ceasefire, and a pullback in oil prices has also contributed to the rally. The Nasdaq has soared over 10% since late March, putting it less than 1% away from its record high. Despite the rally, uncertainty remains, with oil prices still above $90 per barrel. The rebound in stocks has recovered 401(k) plans and personal portfolios invested in US stock benchmarks.
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