Nasdaq Remains High Following Middle East Negotiations
Stocks climbed throughout the day on Tuesday following news that a ceasefire had been achieved between Israel and Iran.
Quick overview
- The stock market is experiencing a bullish trend following a ceasefire between Israel and Iran, with the Nasdaq up 1.43%.
- The Dow Jones and S&P 500 also saw significant gains, climbing 1.19% and 1.11% respectively, reversing previous downtrends.
- The S&P 500 is nearing a record high, currently up 3.58% for the year and only 0.85% away from its peak.
- The Nasdaq is approaching its 2025 peak, driven by strong performances from major tech stocks like Microsoft, Nvidia, and Alphabet.
The stock market is maintaining its bullish trajectory that started early Tuesday with a ceasefire in the Middle East between Israel and Iran, with the Nasdaq up 1.43%.
The Dow Jones climbed 1.19% by the end of trading on Tuesday, marking a rally for the stock markets, with the S&P 500 adding 1.11%. All three indices climbed throughout the day and defied weeks of downtrends that had created enormous selling pressure.
As fighting intensified in the Middle East last week, the stock market fell considerably, with investors worried that oil and other commodities would soon be in short supply. Now that a ceasefire agreement has been reached, the market can breathe a collective sigh of relief, but the peace may not be a lasting one.
Stock Market Outlook for Wednesday
Stocks may continue to climb as trading begins on Wednesday, likely holding onto much of their gains and perhaps gaining a bit more ground in the process. The volatile Middle East is still a battleground, but Iran has stepped away from the fighting for now. At this point, Israel’s focus will be on establishing peace in the Gaza strip and getting their country’s hostages released from Hamas captivity.
The S&P 500 is closing in on a record high once more, as it is currently at its highest point for the year. This stock index is up 3.58% for the year so far and more than 11% over the last 12 months. As Tuesday trading closed off, the S&P 500 was only 0.85% away from its record high. There is a strong possibility the stock index will set a new record on Wednesday.
The Nasdaq is almost back to its 2025 peak, nearing 20,000 after decent gains on Tuesday. The top performing stocks on this index are mostly medical ones, some of which have climbed more than 60% over the last 24 hours.
This tech-heavy index boasted decent performances from some of its stalwart stocks. That includes Microsoft (MSFT), which gained 0.85%, Nvidia (NVDA), which added 2.59%, and Alphabet (GOOG), which climbed 0.96%.
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