S&P 500 Nears Record, Hopes for Iran De-escalation Boost Sentiment
The S&P 500 rallied on Wednesday (April 15th) and approached a new intraday record, as markets remained hopeful of a swift end to the Iran conflict. The benchmark index rose 0.3% and was on track for a record close, while the Nasdaq rose 0.4% and the Dow added 106 points, or 0.2%.
Technology stocks again led the way, with Broadcom rising 2% after Meta extended a partnership for custom chips based on Broadcom technology. The rally continued from the previous session, with the S&P 500 now just 0.2% below its all-time high of 7,002.28 (January 28th). Tuesday marked the S&P 500's ninth winning session in 10 days, while the Nasdaq posted its 10th consecutive gain.
Risk-on sentiment was driven by President Donald Trump's comments that Iran "wants to make a deal," as well as statements by White House officials that a second round of Washington-Tehran negotiations is still under discussion, although no official timetable has been set. However, the market still believes the risks are not completely gone, with market participants warning that the conflict could again generate surprise headlines. (Arl)
Source: Newsmaker.id
