S&P 500 Hits Record High Above 7,000, Erasing Iran War Market Losses
On Wednesday, the S&P 500 achieved a new all-time high of 7,022.95, eclipsing its previous peak from January and recovering from the downturn linked to the U.S.-Israel-Iran conflict in late February. This milestone followed a streak of 11 trading sessions, with only one day of losses, resulting in gains exceeding 10%. The Nasdaq Composite also reached a record, closing at 24,016.02, up 1.59% and over 15% since late March. Meanwhile, the Dow Jones dipped by 72 points (0.15%) but remains approximately 5% higher this month. Analysts attribute the surge to hopes for a ceasefire between the U.S. and Iran, declining oil prices, and robust earnings, despite ongoing geopolitical challenges, including stalled negotiations in Pakistan and President Trump's blockade in the Strait of Hormuz.
Key facts
- S&P 500 closed at record high 7,022.95 on Wednesday
- Index erased all losses since Iran conflict began February 28
- Nasdaq Composite hit record 24,016.02, up 1.59% Wednesday
- Market gained over 10% in 11 trading days with only one decline
- Ceasefire brokered by Pakistan on April 7 triggered initial rally
- Conflict began with U.S. and Israel attacking Iran February 28
- Iran throttled Strait of Hormuz traffic, carrying 20% of global oil/gas
- Gasoline prices remain high despite stock market recovery
Entities
Institutions
- S&P 500
- Nasdaq
- Dow Jones Industrial Average
- CNBC
- CNN
- Yardeni Research
- Piper Sandler
- Citi
- Getty Images
Locations
- United States
- Israel
- Iran
- Pakistan
- Islamabad
- Strait of Hormuz
Sources
- Quartz —