The Nasdaq secured a fresh record close alongside the S&P 500 on Wednesday, with upbeat earnings and an extended ceasefire between the U.S. and Iran driving Wall Street's optimism. The Dow managed a triple-digit pop of its own. A timeline for peace negotiations remains unclear, with Iran seizing two cargo ships off the Strait of Hormuz. Amid today's market rally, the Cboe Volatility Index (VIX) marked its first loss in three sessions.
Gold, Oil Prices Push Higher
Oil prices settled higher on Wednesday, following news that Iran seized container ships crossing the Strait of Hormuz, while the U.S. naval blockade is still in effect. June-dated West Texas Intermediate (WTI), now the front-month contract, added over 3% to finish at $92.96 per barrel.
Gold prices moved higher as well, as investors bought the dip and eyed a drop in long-term U.S. Treasury yields. June-dated gold rose 1% to settle at $4,767.70 an ounce.
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