S&P 500 sets record, bounces back from Iran-related losses
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The S&P 500 recently reached a new intraday record high, overcoming uncertainty and maintaining its recent rally, fueled by optimism surrounding the fragile US-Iran ceasefire.
The S&P 500 rose 0.5% Wednesday and climbed to 7,003.82 points, surpassing a previous intraday peak of 7,002.28 set on January 28, News.Az reports, citing CNN.
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US stocks have staged a fierce relief rally on hope for the fragile ceasefire. A pullback in oil prices from recent highs has also helped boost stocks. US crude traded at $95 per barrel Wednesday, down from its Iran war highs above $110, though still well above its pre-war level of $67.
The S&P 500 needs to close with a gain of at least 0.17% to officially close at a record high.
By Ulviyya Salmanli
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