Washington (awp/afp) – The New York Stock Exchange moved in scattered order on Wednesday, catching its breath after a strong start to the week, buoyed by hopes for peace in the Middle East.
Around 2:00 pm GMT, the Dow Jones was down 0.15%, the Nasdaq was up 0.52% and the broader S&P 500 index gained 0.20%, trading close to its historical records.
“The market remains optimistic about the imminent conclusion, between the United States and Iran, of a lasting agreement,” explains Patrick O’Hare of Briefing.com.
“But after reaching such high levels in recent days, we are starting to feel a bit worn out,” commented Art Hogan of B. Riley Wealth Management to AFP.
Following the failed discussions in Pakistan over the weekend, US President Donald Trump assured that new talks could take place “in the next two days.”
He also stated that the war with Iran was “almost over” during an interview on Fox News, asserting that Iranian authorities “really want to reach an agreement.”
Tehran, however, threatened on Wednesday to block maritime traffic in the Red Sea if the United States continued to impose a blockade on Iranian ports, warning that the ceasefire, in effect since April 8, was in jeopardy.
“So the market remains somewhat cautious,” notes Art Hogan. “And one question remains unanswered: how will we go about reopening the Strait of Hormuz?”
This strategic maritime passage, through which about a fifth of the world’s oil and gas normally passes, has been nearly paralyzed by Iran since the beginning of the war, leading to a surge in oil prices.
“But overall, many objective signs indicate that the market has been relieved by the recent turn of events,” says Patrick O’Hare.
Meanwhile, the American market on Wednesday welcomed a new wave of corporate results.
Bank of America (+1.93% to $54.38) announced a strong increase in its net profit in the first quarter of 2026, supported by higher revenues from loans and market activities, in an American economy deemed “resilient.”
American investment bank Morgan Stanley (+4.57% to $191.71) also benefited from quarterly performances above expectations, including a significant increase in revenue.
“Next week, when we start to receive results from some sectors more dependent on energy, we may potentially see a slowdown, either in the actual figures or in the forecasts,” says Art Hogan.
On the bond market, the 10-year yield of US government bonds edged slightly higher, trading around 4.27% compared to 4.26% the previous day.
Elsewhere, shares in Snap (+7.14% to $5.99), the parent company of Snapchat, were sought after following press reports that the company could cut up to 16% of its global workforce, citing efficiency gains related to artificial intelligence (AI).
Shoe brand Allbirds was soaring (+380.92% to $11.97) after announcing on Wednesday that it was refocusing its activities on AI-related infrastructure.
afp/al
