The New York Stock Exchange opened slightly higher on Wednesday, taking a breather after a strong start to the week, bolstered by hopes of peace in the Middle East. Around 14:00 GMT, the Dow Jones was down 0.15%, the Nasdaq was up 0.52%, and the S&P 500 gained 0.20%, hovering close to its historical records.
“The market remains optimistic about the upcoming conclusion between the United States and Iran of a lasting agreement,” said Patrick O’Hare of Briefing.com. “But we are getting a little tired after reaching such high levels in recent days,” commented Art Hogan of B. Riley Wealth Management to AFP.
Following the unsuccessful discussions in Pakistan over the weekend, US President Donald Trump stated that new talks could take place “in the next two days.” He also claimed that the war with Iran was “almost over” during an interview on Fox News, stating that Iranian authorities “really want to reach an agreement.” However, Tehran threatened on Wednesday to block maritime traffic in the Red Sea if the US continued to blockade Iranian ports, warning that the ceasefire in effect since April 8 was in jeopardy. “The market remains somewhat cautious,” noted Art Hogan. “And a question lingers: how will we reopen the Strait of Hormuz?” This strategic waterway, through which about a fifth of the world’s oil and gas normally passes, has been practically paralyzed by Iran since the beginning of the war, leading to a surge in oil prices.
In parallel, the American market on Wednesday welcomed a new wave of corporate results. Bank of America announced a strong increase in its net profit in the first quarter of 2026, driven by higher revenues from loans and market activities in a resilient American economy. American investment bank Morgan Stanley also benefitted from quarterly performances above expectations, including a significant increase in revenue. “Next week, as we start to receive results from some sectors more dependent on energy, we may potentially see a slowdown, either in the numbers themselves or the forecasts,” said Art Hogan. On the bond market, the yield on 10-year US Treasury bonds slightly rose, hovering around 4.27% compared to 4.26% the previous day. Elsewhere, Snap, the parent company of Snapchat, was sought after following reports that the company could cut up to 16% of its global workforce, citing efficiency gains related to artificial intelligence (AI). Shoe brand Allbirds surged after announcing that it was refocusing its activities on AI infrastructure.
