The S&P 500 (^GSPC +1.18%) rose 0.80% to 7,022.95, and the Nasdaq Composite (^IXIC +2.07%) climbed 1.59% to 24,016.02 as both set new all-time highs. The Dow Jones Industrial Average (^DJI +0.59%) slipped 0.15% to 48,463.72.
Market movers
Bank of America (BAC +0.00%) and Morgan Stanley (MS 0.15%) both gained following strong quarterly earnings today. Shares in popular low-cost broker, Robinhood Markets (HOOD +3.13%) increased by more than 10% after the Securities and Exchange Commission approved a new proposal on day-trading rules for retail investors.
Allbirds (BIRD 2.72%) soared more than 580% after pivoting from footwear to an AI-focused business model, while ASML (ASML +4.92%) sank despite solid earnings.
What this means for investors
The S&P 500 and Nasdaq both set new records today as stocks rebound on hopes of a U.S.-Iran deal. Traffic through the Strait of Hormuz remains restricted, and oil prices remain elevated though they fell slightly. Optimism about peace negotiations, combined with a strong start to the earnings season, buoyed markets.
Tech stocks, including some software leaders, helped lift the Nasdaq as investors regained some appetite for risk. Microsoft (MSFT 1.13%) and Oracle (ORCL 0.52%) extended their gains. ServiceNow (NOW +1.58%) and Salesforce (CRM 0.28%), which have taken a battering this year, were both in the green.
The economic impact of the recent energy price hike remains unclear, but markets are showing resilience. For long-term investors, maintaining a diversified portfolio with a mix of geographic, industry, and asset exposure remains a good way to navigate geopolitical upheaval.
