The S&P 500 and Nasdaq hit record highs Wednesday as investors remain optimistic despite ongoing Iran conflict and rising energy prices. Strong corporate earnings and expectations of de-escalation in the Middle East have fueled the rally.
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Stocks surged and oil prices plunged after a two-week ceasefire was announced between the U.S. and Iran, easing fears of a prolonged energy crisis. Despite the positive market reaction, analysts caution that uncertainty remains about the future of shipping through the Strait of Hormuz and the durability of the ceasefire.
U.S. stocks fell sharply and oil prices surged after President Trump pledged continued strikes on Iran without outlining a ceasefire plan or reopening the Strait of Hormuz. The Dow dropped over 600 points as energy prices and inflation concerns rose.