Lates News

The war with Iran has been going on for two months, and although the situation still lacks a clear endpoint, Wall Street seems to be gradually tuning out these external noises after the initial turbulence. Since March 27, the S&P 500 index has rebounded nearly 10% and is expected to achieve a third consecutive week of gains. During the same period, the Nasdaq 100 index has accumulated about a 12% increase and achieved its longest streak of ten consecutive gains since 2021. After five weeks of decline triggered by the US airstrikes, traders are now starting to ignore the negative news from the Middle East and heavily buying stocks again. Doug Peta, Chief US Investment Strategist at BCA Research, stated, "The stock market and even the entire financial market seem not so worried about the situation in the Strait of Hormuz. With the financial reporting season underway, company fundamentals are driving stock prices more strongly than the headlines about the Iran situation." Veteran strategist Ed Yardeni pointed out that the market is learning to "coexist" with the war with Iran and maintaining the judgment that the S&P 500 index bottomed on March 30.