Traders work on the floor of the New York Stock Exchange (NYSE) on April 20, 2026 in New York City, USA.
Brendan McDiarmid | Reuters
of S&P500 Oil prices fell on Tuesday as oil prices rose as investors awaited further developments in the Middle East ahead of a cease-fire that expires on Wednesday.
The broad market index fell 0.1%. Nasdaq Composite It increased by 0.1%. of Dow Jones Industrial Average It decreased by 37 points (0.1%).
President Donald Trump told CNBC on Tuesday that he expects the United States and Iran to reach a “great deal.” But the president said the U.S. military was “ready” to bomb Iran if a deal was not signed by the end of the ceasefire, adding that he did not want the end of the ceasefire to be extended.
This came after President Trump said in a Truth Social post earlier Tuesday that Iran “violated the cease-fire multiple times!”
Oil prices have reversed sharp declines in recent days in anticipation of a deal. West Texas Intermediate Futures It rose 3% to more than $92 per barrel. brent futures It rose 1% to more than $96 per barrel.
“Once confidence starts to return to normality in traffic, commodity prices will normalize,” said Brian Mulberry, chief market strategist at Zacks Investment Management. “We are hopeful that a key part of that, sea control of the Strait of Hormuz, will be absolutely resolved by the end of this week.”
Indeed, commercial shipping traffic passing through the strait briefly spiked over the weekend, but has since slowed down again following numerous ship attacks.
Major stock averages fell on Monday as the market recovery slowed slightly as traders grew nervous ahead of the expiration of the ceasefire. The Nasdaq ended its longest winning streak since 1992 in 13 days.
Over the past trading week, the S&P 500 and Nasdaq posted multiple intraday and closing highs on hopes of an end to the Iran war in the near future. Notably, the former finished above 7,100 for the first time in history.
Mulberry and others on Wall Street remain bullish on the overall outlook for the stock market.
“In terms of revenue, we’re looking at a very strong first quarter,” he said, noting that he expects double-digit growth and “strong” revenue in the sector. “I don’t think we can miss it at this point.”
UnitedHealth’s first-quarter results on Tuesday beat Wall Street expectations, sending the health insurance giant’s stock up more than 6%. The company also raised its profit outlook.
Meanwhile, Amazon shares rose more than 1% after the company agreed to invest up to $25 billion in artificial intelligence startup Anthropic.
