Tuesday's session on Wall Street ended with increases in the main indexes, similar to the day before, and investors hope that a solution to the conflict in the Middle East will be found. The market is also waiting for Wednesday's Fed decision on interest rates.
The Dow Jones Industrial was up 0.10 percent at the close. and amounted to 46,993.26 points. The S&P 500 increased by 0.25% at the end of the day. and amounted to 6,716.09 points. The Nasdaq Composite increased by 0.47%. up to 22,479.53 points The Russell 2000 mid-cap index is up 0.81%. and amounts to 2,522.97 points. The VIX index falls by 4.72%. up to 22.40 points
Investors are monitoring the situation in the Middle East, where Israeli Defense Minister Israel Kats announced on Tuesday that the head of Iran's Supreme National Security Council, Ali Larijani, was killed overnight in an attack by the Israeli army. He also confirmed the death of Golamreza Soleimani, the leader of the Iranian paramilitary organization Basij.
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Iran has intensified attacks on energy infrastructure, including: resulted in the suspension of natural gas production in a large field in the United Arab Emirates.
– Investors still hope that a quick and relatively painless solution to this situation will be found and that this will be another in a long and continuous series of opportunities to buy stocks during periods of decline, said Steve Sosnick, chief strategist at Interactive Brokers. “There is also a degree of residual FOMO that allows small gains to turn into relatively large moves higher, even when there appears to be no fundamental reason for this,” he continued.
AFP reported that powerful explosions were heard on Tuesday morning in Doha, the capital of Qatar, and Dubai in the United Arab Emirates following attacks by Iran. An unknown missile hit an anchored tanker 23 nautical miles east of the port of Fujairah in the United Arab Emirates.
US President Donald Trump said on Tuesday that while he is not yet ready to end the war with Iran, he will do so in the “very near future.” At the same time, he announced that due to the ongoing war he would postpone his visit to China, which is now scheduled to take place in 5-6 weeks.
– The longer the price of oil stays above $100 per barrel, the louder the market alarm about the risk of inflation becomes. – said Dan Coatsworth, head of markets at AJ Bell.
– The fundamentals have not changed: higher energy prices fuel stagflation shockthe scale of which depends on how long prices remain high. With the stock market still weak, there is potential for further declines, said Skylar Montgomery Koning, Bloomberg macro strategist.
Investors are preparing for the Fed's interest rate decision, which will be announced on Wednesday. Analysts estimate that the US Federal Reserve will leave interest rates unchanged. According to data collected by LSEG, US interest rate futures point to one cut of 25 basis points. at the end of the year, compared with about two before the war.
While we do not expect central banks to make rash policy decisions, policymakers are likely to emphasize vigilance about inflation risks in the face of high oil prices and uncertainty about the duration of the war. Comments that are more hawkish than expected may cause further volatility in a market susceptible to mood swings, UBS analysts wrote in a report.
During Monday's annual GTC conference, Nvidia chief executive Jensen Huang said Nvidia expects to sell $1 trillion of Blackwell and Rubin chips by the end of 2027, updating previous forecasts of $500 billion in sales by the end of 2026.
Uber rose over 4%. after announcing plans to introduce robotaxis in 28 cities from next year, based on Nvidia's autonomous driving software.
Plant-based meat producer Beyond Meat fell more than 7%. percent after the publication of its annual report was delayed and its preliminary quarterly revenues fell short of expectations.
Bank of America's latest fund manager survey shows investors are becoming pessimistic and holding more cash. The cash rate increased to 4.3%. in March from 3.4 percent last month. The bank said its broadest gauge of market sentiment fell to its lowest level in six months in March.
The number of home sales contracts signed by Americans in February increased by 1.8%. month to month – reported the National Association of Realtors. Wall Street analysts expected the number of home sale contracts to decline by 0.6%. mdm.
A month earlier, the number of signed contracts for the sale of houses (pending home sales) decreased by 1%, after correction from -0.8%. mdm.
On the oil market, WTI contracts for April are up by 2.79%. to USD 96.13 per barrel, and May Brent futures increase by 3.48%. up to USD 103.70/b. (PAP Business)
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