Quick overview

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The S&P 500 recorded its longest winning streak since October as stocks continued to rise for a seventh day in a row. This is despite a decline in software shares. In anticipation of a de-escalation in the strikes that have kept the Strait of Hormuz mostly blocked, US crude settled close to $98.

President Donald Trump stated that he was “very optimistic” about a deal with Iran despite unresolved issues like Israel’s offensive in Lebanon and the opening of Hormuz.

Benjamin Netanyahu, the prime minister of Israel, consented to direct negotiations with Lebanon to disarm Hezbollah, which is affiliated with Tehran. Trump has requested a reduction in the number of strikes to guarantee the success of talks with Iran.

According to Bradford Smith of Janus Henderson Investors, “not much matters for the market other than the durability of the ceasefire, shipping volume through the Strait of Hormuz, and ultimately, whether a bona fide permanent deal is struck.

All of this is taking place at a time when data indicated that the US economy grew more slowly than anticipated in the last few months of 2025. In February, consumer spending barely increased despite ongoing inflation that is expected to pick up speed as a result of the conflict. According to Jeff Roach of LPL Financial, “inflation pressures were particularly acute in health care and financial services even before the war.”

“Material progress is still a long way off. According to Bret Kenwell of eToro, “the consumer price index on Friday will capture some of that impact, but the latest figures don’t reflect the recent surge in energy prices.” The CPI is expected to rise by 0.9 percent, the biggest one-month increase since 2022, according to economists. Recurring applications for

US unemployment benefits dropped to the lowest level in nearly two years, according to a separate report released on Thursday, adding to the evidence of labor market stabilization.