S&P 500 hits record intraday high on hopes Iran war may end

The S&P 500 hit a new all‑time intraday high Wednesday, climbing 0.6% in afternoon trading to 7,009.86 as of 18:13 GMT. The benchmark index surpassed its previous intraday record of 7,002.28 set on 28 January, as investors grew hopeful that diplomacy could gain traction despite the collapse of US‑Iran talks in Pakistan last weekend. President Trump said negotiations could soon resume.

Mixed Index Performance

A close above 6,978.60 would mark a new record high. The Nasdaq Composite rose 1.1%, putting it on track for an 11th straight gain, while the Dow fell 139 points, or 0.3%. If sustained, Wednesday’s numbers would leave the S&P 500 with gains in 10 of the last 11 sessions. The broader market’s advance came as investors remained optimistic that a resolution to the Iran conflict could support risk appetite and extend Wall Street’s recent rally.

Recovery from War‑Driven Sell‑off

US stocks sold off sharply after the war began on 28 February, when the US and Israel launched attacks against Iran. Oil prices surged and investors worried that higher energy costs could reignite inflation and complicate interest rate expectations. The S&P 500 fell as much as 9% after the outbreak of hostilities, while the Nasdaq and Dow entered correction territory. Wednesday’s rally reflects growing confidence that an end to the conflict may be within reach.