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AP: How Wall Street is setting records even with the Iran war still going on
Corporate profits beat estimates and Brent crude eased to about $100 a barrel, helping calm investor fears after weeks of war-related volatility.
- Today, the S&P 500 index closed at a record 7,137.90, recovering from a decline of nearly 10% below its prior record last month and rewarding patient investors.
- Surpassing expectations, more than 15% of S&P 500 companies reported first-quarter earnings, with analysts forecasting profit growth to accelerate to 20% in the second quarter according to FactSet.
- Bank of America Chief Executive Officer Brian Moynihan said last week that "we saw healthy client activity, including solid consumer spending and stable asset quality, indicating a resilient American economy," though households worry about gasoline prices.
- Brent crude oil prices pulled back from a high of $119 to around $100 today, as expectations that the United States and Iran will avoid a worst-case scenario have eased market tensions.
- Traders on Wall Street are betting that the Federal Reserve could resume interest rate cuts later this year, no longer worried about the possibility of rate hikes according to CME Group data.
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Associated Press News+16 Reposted by 16 other sources
How Wall Street is setting records even with the Iran war still going on
It seems so illogical. How can the U.S. stock market be setting records when gasoline prices are still expensive and the war with Iran is still going?
·United States
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At the heart of this return is the financial performance of the companies, writes AP. In the long term, the share price is determined by two essential variables: how much companies win and how much investors are willing to pay for these gains. The first financial results for 2026 indicate a clear trend: most companies in S&P 500 have exceeded the expectations of the analysts. If the pace is maintained, the profits could increase by about 14% com…
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Total News Sources18
Leaning Left8Leaning Right1Center5Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 36%
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