US Indexes Edge Higher as Iran Rejects Ceasefire Proposal
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- Iran rejected the U.S. proposal for an immediate ceasefire, demanding a permanent end to the war, according to IRNA.
- U.S. stock indexes all rose, with the S&P 500 up 0.44% (29.02 points), Nasdaq up 0.52% (114.29 points), and Dow up 0.37% (170.36 points).
- U.S. services sector expanded at a slower‑than‑expected pace in March, with employment contracting and prices paid hitting the highest level since October 2022.
- March jobs report showed the U.S. added 178,000 jobs, far exceeding the 60,000 consensus, while February job losses were revised to 133,000.
- Soleno Therapeutics saw its shares jump after Neurocrine Biosciences agreed to acquire it for $2.9 billion in cash.
- Bitcoin rose, lifting cryptocurrency firms Coinbase and Strategy.
Why it matters: The modest gains across the S&P 500, Nasdaq and Dow give investors a breather amid the Iran‑U.S. standoff, while the stronger‑than‑expected March jobs report bolsters confidence in the U.S. economy and supports the view that corporate earnings can sustain the current bull market. Crypto and acquisition‑related stocks also see upside.
