Wall Street Hits All-Time High, Optimism Over Iran-US Peace Deal Drives Market Rally
NEW YORK - The United States stock market, or Wall Street, once again hit an all-time high at Thursday’s close (16 April 2026) local time, amid rising market optimism over the potential end to the Iran-US conflict.
Citing CNBC on Friday (17 April 2026), the S&P 500 closed up 0.26 per cent at 7,041.28. Meanwhile, the Nasdaq Composite rose 0.36 per cent to 24,102.70. The Nasdaq even recorded gains for 12 consecutive sessions, marking the longest rally since 2009.
The Dow Jones Industrial Average also strengthened by 115 points, or 0.24 per cent, to 48,578.72.
Over the course of the week, the S&P 500 and Nasdaq have each risen 3.3 per cent and 5.2 per cent respectively, while the Dow posted a gain of more than 1 per cent.
In his statement, Trump noted that Israel and Lebanon have agreed to a 10-day ceasefire starting at 5:00 p.m. local time. This agreement is seen as an initial step towards easing the conflict in the Middle East region.
On the other hand, the halt of Israeli attacks on Lebanon is said to be a key condition for resuming negotiations between the United States and Iran.
Trump also stated that further talks between the US and Iran are likely to take place over the coming weekend. He had previously described the Iran conflict as “very close to ending,” in line with Tehran’s desire to reach an agreement.
In the previous Wednesday’s trading, the S&P 500 closed above the 7,000 level for the first time, while the Nasdaq also achieved its first close above 24,000.
Although a peace agreement between the United States and Iran could potentially be reached soon as investors hope, the market remains at risk of volatility due to the war’s impact on the US economy.
“We may have to go through a few quarters with GDP growth below expectations,” said Rob Williams, Head of Investment Strategy at Sage Advisory.
“So far, the market has been waiting for the Iran conflict to subside, which will certainly be a positive sentiment. However, economic growth is still around 2 per cent and could fall below that in the coming quarters,” he explained.