Quick overview

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The S&P 500 and the Nasdaq Composite reached new record highs on Wednesday, April 15, as investors grew more optimistic about renewed negotiations between the United States and Iran, alongside a fresh batch of corporate earnings.

Despite recent volatility caused by the war in the Middle East and the effective closure of the Strait of Hormuz, U.S. equities maintained their broader upward momentum.

In this context, the Dow Jones Industrial Average slipped 0.2% to 48,463.72 points, while the S&P 500 gained 0.8% to 7,022.81, and the Nasdaq Composite climbed 1.6% to 24,016.02.

Trump says war with Iran may be nearing its end

Donald Trump suggested that the conflict between the United States and Iran could be approaching an end, even as the U.S. military said an ongoing naval blockade continues to restrict maritime traffic to and from Iran.

Speaking to Sky News in the United Kingdom, Trump said it was “very possible” that a permanent ceasefire agreement could be reached before the visit of King Charles III later this month.

Earlier, Trump told Fox News that the conflict—triggered by joint attacks by the United States and Israel against Iran in late February—was “close to ending.”

According to a report by New York Post, the U.S. president expects ceasefire talks between Washington and Tehran to resume within the next two days following the first round of negotiations held in Pakistan last weekend.

Trump repeatedly argued that the fighting is nearing its conclusion and that the United States has achieved its objectives in Iran, including curbing Tehran’s nuclear ambitions and weakening its military capabilities, claims largely rejected by Iran.

Meanwhile, Associated Press reported that mediators are making progress toward extending the ceasefire, with both sides expected to return to the negotiating table soon.

According to the report, mediators are working on compromises around three major sticking points: Iran’s nuclear program, the reopening of the Strait of Hormuz, and war compensation.

Oil prices fluctuated on Wednesday but remained well below the $100-per-barrel threshold, as traders closely monitored supply flows through the Persian Gulf, particularly the strategic Strait of Hormuz.

Key stock movers

• Shares of Tesla surged 7.6% after CEO Elon Musk announced that the company’s chip design team had completed the “tape-out” of its AI5 chip.
• The news also lifted several quantum computing stocks. D-Wave Quantum jumped 22.6%, Infleqtion rose 6.2%, Rigetti Computing advanced 12.2%, and Quantum Computing Inc. gained 16%.
• Nike shares climbed 1.9% following insider purchases by Tim Cook, CEO of Apple, and Nike’s own CEO Elliott Hill.
• Meanwhile, Papa John’s International rose 5.6% after a report by Reuters indicated that the pizza chain is in advanced talks over a potential acquisition that could take the company private.