S&P 500, Nasdaq 100 Hit Records as Ceasefire Hopes Fuel Rally
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergStocks extended their streak of gains, pushing both the S&P 500 and Nasdaq 100 indexes to record highs, as investors piled into equities on optimism over the ceasefire between the US and Iran and robust corporate earnings.
The S&P 500 climbed 0.8% to close above 7,000 points, marking its first record since late January, with the technology and consumer discretionary sectors leading the advance. The Nasdaq 100, in the middle of its longest winning streak since 2019, rose 1.4% to notch a record of its own for the first time since October.