Stocks Are Booming Despite the Iran War, Inflation and the Country's Dour Mood. Here's Why.
Technology shares led gains as investors looked past Iran tensions and pushed the S&P 500 and Nasdaq to record closing highs, officials said.
- The S&P 500 and Nasdaq hit record closing highs on Tuesday as AI-fueled optimism drove gains, with semiconductor stocks gaining 82 points and reaching $1 trillion in market value for the first time.
- Recent U.S. strikes on Iran compounded anxiety over Middle East peace talks, yet AI enthusiasm offset geopolitical concerns that threatened to dampen investor sentiment and equity valuations.
- Semiconductor stocks led the advance, with Micron posting strong earnings and renewed confidence. Christopher Zaccarelli, chief investment officer at Northlight Asset Management, noted the current rally reminds investors of the 1990s boom.
- Some investors expressed concern that lessons from the tech bubble burst over 20 years ago could repeat, warning that prior crash lessons may have been forgotten amid current enthusiasm.
- U.S. Secretary of State Marco Rubio said a diplomatic deal with Tehran to halt the conflict could take a few days, though Iran's reported threats left resolution prospects uncertain.
16 Articles
16 Articles
Wall Street continues in record despite inflation and war with Iran. The S&P reaches historic peaks. Here the reasons and risks behind this rally
The Dow Jones index closed at 0.36%, at 50.644.28 points, the S&P 500 scored marginal high at 0.02%, at 7.520.46 points, and the Nasdaq rose at 0.07%, at 26.674.74 points.
S&P 500 And Nasdaq 100 Hit All-Time Highs As Iran Peace Talks Lift Technology Stocks
The S&P 500 Index ($SPX) (SPY) closed up +0.61% on Tuesday, while the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.23%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.76%. June E-mini S&P futures (ESM26) rose +0.61% and June E-mini Nasdaq futures (NQM26) rose +1.72% on the session. The S&P 500 and Nasdaq 100 both posted new all-time highs as falling crude oil prices and bond yields fueled a rally in technology stocks. Stocks ga…
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