Wall Street continued to brush off fears of a rise in geopolitical tensions, remaining optimistic that another round of possible peace talks between Iran and the U.S. could result in a deal to end the war. A surge in Big Tech also aided today's gains, sending the Nasdaq to its 10th straight daily gain -- a feat not seen since November 2021. The S&P 500 enjoyed its highest close since February and is now near record highs, after wiping war-related losses. The Dow also marked a healthy win, while the Cboe Volatility Index (VIX) suffered a fifth-straight loss, its longest losing streak since December.
Oil Prices Pull Back on Peace Talk Buzz
Peace talk rumors between the U.S. and Iran triggered a tumble in crude prices. Front month, May-dated West Texas Intermediate (WTI) fell roughly 8% to finish at $91.28 per barrel.
A weakening U.S. greenback pushed gold prices higher this afternoon. April-dated gold rose 1% to finish at $4,815.40 an ounce.
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