The S&P 500 enjoyed its highest close since February
Wall Street continued to brush off fears of a rise in geopolitical tensions, remaining optimistic that another round of possible peace talks between Iran and the U.S. could result in a deal to end the war. A surge in Big Tech also aided today's gains, sending the Nasdaq to its 10th straight daily gain -- a feat not seen since November 2021. The S&P 500 enjoyed its highest close since February and is now near record highs, after wiping war-related losses. The Dow also marked a healthy win, while the Cboe Volatility Index (VIX) suffered a fifth-straight loss, its longest losing streak since December.
Continue reading for more on today's market, including:
5 Things to Know Today
- JPMorgan Chase ((JPM) CEO Jamie Dimon warns that AI tools could be making companies more susceptible to cyber attacks. (CNBC)
- Data suggests that the U.K. will likely suffer the biggest economic hit from the U.S.-Iran war. (Bloomberg)
- Unpacking Amazon's acquisition of satellite giant Globalstar.
- Semiconductor stock just logged its ninth win in 10 sessions.
- Short sellers are also flocking to satellite stocks.
Oil Prices Pull Back on Peace Talk Buzz
Peace talk rumors between the U.S. and Iran triggered a tumble in crude prices. Front month, May-dated West Texas Intermediate (WTI) fell roughly 8% to finish at $91.28 per barrel.
A weakening U.S. greenback pushed gold prices higher this afternoon. April-dated gold rose 1% to finish at $4,815.40 an ounce.