Stocks Extend Rally on Hopes of End to Iran War; SpaceX Eyes IPO

The rebound in US equities continued on Wednesday as traders grew optimistic about US military operations in Iran ending soon and a batch of strong data showed resilience in the world’s largest economy.

The S&P 500 Index closed 0.7% higher, while the Nasdaq 100 Index jumped 1.2%. The moves build on a Tuesday rally where US equities had their best day since May. Oil prices retreated. Meanwhile, SpaceX has filed confidentially for a widely anticipated initial public offering, according to people familiar with the matter.