S&P 500 and Nasdaq with new records. Fear evaporated from Wall Street

Wednesday's session on Wall Street ended with a majority of gains. The S&P 500 and Nasdaq indexes set new records, continuing gains from previous days. Investors still hope for a quick end to the war with Iran.

The Dow Jones Industrial dropped 0.15 percent at the close. and amounted to 48,463.72 points. The S&P 500 increased by 0.8% at the end of the day. and amounted to 7,022.95 points. The Nasdaq Composite rose 1.6%. up to 24,016.02 points The Russell 2000 mid-cap index is up 0.17%. and amounts to 2,710.21 points. The VIX index loses 1.25%. up to 18.13 points

This week, the indexes are rising due to the possibility of a peace agreement between the United States and Iran. Monday's increase in the S&P 500 index offset the losses incurred after the outbreak of the war with Iran at the end of February.

The AP news agency reported, citing sources, that mediators on Wednesday moved closer to extending the ceasefire between the United States and Iran and resuming negotiations before the ceasefire expires next week. US President Donald Trump announced on Tuesday once again that the war in Iran is very close to ending.

If further talks with Iran take place, it is very likely that these negotiations will take place in Pakistan, White House spokeswoman Karoline Leavitt said on Wednesday. At the same time, she denied that the US had made a formal offer to extend the ceasefire.

– Will there be an agreement that will allow the reopening of the Strait of Hormuz and limit the rhetoric regarding blocking the flow of goods? The market seems to suggest that this will be the case, said Thomas Martin, managing director at Globalt Investments.

US Central Command reported on Wednesday that during the first two days of the US blockade of Iranian ports, no ship passed through, and 9 vessels sailing from or to Iranian ports turned back at the request of US forces.

“There has obviously been a strong rebound from the March lows, but as the earnings season progresses and macroeconomic data flows in, we will start to see the real impact of the war,” said Fiona Cincotta, senior market analyst at City Index.

– Investors have many long-term opportunities. “Now we're seeing them go back to their favorites, which I think, especially for medium-term and long-term investors, will be an opportunity to invest in sectors that haven't performed as well over the last few years in this tight market that we've had,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said on CNBC's “Closing Bell: Overtime.”

The Federal Reserve announced on Wednesday in the so-called beige book that the U.S. economy grew at a “slight to moderate” pace over the past six weeks while consumers grappled with rising prices.

As reported, the war in Iran was a source of uncertainty for enterprises. The price increase was described as “moderate”, even despite the sharp increase in energy and fuel costs.

Morgan Stanley shares rose 4.5% on Wednesday. after better-than-expected first quarter results.

Bank of America also surprised positively with its results. The share price gained 1.8%. Broadcom shares gained 4.2%. after Meta extended its contract with the company to produce custom chips.

On the oil market, WTI contracts for May are down 0.4%. to USD 90.92 per barrel, and June Brent futures fall by 0.04%. up to USD 94.75/b. (PAP Business)

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