S&P 500, Nasdaq Hit Intraday Records as Iran War Eases
SkimNews Take
Despite record highs, the market's reliance on geopolitical calm and a fragmented earnings picture suggests underlying fragility rather than broad-based strength.
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- S&P 500 gained 16.63 points (0.24%) to close at 7,040.09, marking an intraday record.
- Nasdaq added 80.98 points (0.34%) to 24,097.00, achieving its 12th consecutive advance, the longest winning streak since July 2009.
- Dow Jones rose 101.37 points (0.21%) to 48,565.09, also hitting an intraday high.
- Iran war remains the dominant market driver, with analysts saying it has stretched the market downside and now snapping back, per Chris Zaccarelli and Robert Phipps.
- PepsiCo shares climbed after beating quarterly profit estimates.
- Abbott fell to its lowest level since November 2023 after cutting its full‑year profit forecast.
- NASA awarded Voyager Technologies a contract for a private astronaut mission to the ISS, lifting its stock.
Why it matters: Investors see the rally as a relief from the Iran war’s downside pressure, but earnings divergence means winners like PepsiCo benefit while losers such as Abbott face valuation hits, highlighting that market gains may be fragile without solid fundamentals in the near term.
