S&P 500, Nasdaq Near Record Highs on Israel-Iran Ceasefire Hopes

Wall Street's S&P 500 and Nasdaq neared record highs following President Donald Trump's announcement of a ceasefire between Israel and Iran, which eased fears of prolonged conflict and oil supply disruptions. The Dow Jones also surged over 500 points, with financial and technology stocks leading gains, while energy shares declined due to falling crude prices. Fed Chair Jerome Powell's testimony reinforced a wait-and-watch approach to interest rate cuts amid tariff uncertainties, providing additional market reassurance. Veteran investors and economists like Ramesh Damani and Jeremy Siegel view the easing geopolitical tensions and Trump's military actions as catalysts for renewed investor confidence and potential for new market highs, contingent on no further escalation from Iran. Despite this bullish sentiment, experts caution that unresolved global and U.S. economic issues, such as deficits and inflation, remain risks. Overall, the ceasefire announcement has sparked a risk-on rally, with markets anticipating further gains if stability holds.