US stocks today: US stocks end higher as investors parse US-Iran negotiations, threats
Why it matters: The S&P 500 remains down 4% since the US-Iran conflict began, impacting investor sentiment.
- Iran rejected the U.S. proposal for an immediate ceasefire, demanding a permanent end to the war, according to IRNA, following Trump's threats of 'hell' if the Strait of Hormuz remains closed.
- Investors found reassurance in reports of continued ceasefire discussions between the U.S., Iran, and regional mediators, leading to slight advances in all three major U.S. indexes.
- Ryan Detrick, chief market strategist at Carson Group, noted that investors feel 'we're seeing more talking on each side' and expressed optimism for 'solid, solid performance' in the upcoming earnings season.
- The S&P 500 gained 0.44% to 6,611.71 points, the Nasdaq Composite rose 0.52% to 21,993.47, and the Dow Jones Industrial Average advanced 0.37% to 46,675.03, despite thin trading volumes.
- Economic data showed the U.S. services sector expanded slower than expected in March, with employment contracting and prices paid surging to their highest level since October 2022.
- The March jobs report revealed the U.S. economy added 178,000 jobs, nearly triple the consensus, though February's job losses were revised to 133,000 from 92,000.
- Soleno Therapeutics shares jumped after Neurocrine Biosciences agreed to acquire the company for $2.9 billion in cash, while Coinbase and Strategy were boosted by rising bitcoin prices.
US stocks ended higher despite Iran rejecting an immediate ceasefire, insisting on a permanent end to the war, while investors found reassurance in ongoing negotiations. The S&P 500 and Nasdaq extended gains for a fourth consecutive day, fueled by optimism for the upcoming earnings season, even as the S&P remains down 4% since the conflict began.
