Traders work on the floor of the New York Stock Exchange on March 27, 2026.
Michael Nagle | Bloomberg | Getty Images
of S&P500 and Nasdaq Composite Stocks hit a new all-time high on Wednesday, building on this week’s strong gains as investors remain hopeful that the Iran war could end soon.
The market composite index rose 0.80% to close at 7,022.95. The Nasdaq Composite rose 1.59% to 24,016.02. Dow Jones Industrial Average It closed 72.27 points (0.15%) lower at 48,463.72. The Nasdaq and S&P 500 both closed at record highs, with the tech-heavy index snapping an 11-day winning streak and the market-wide benchmark posting its 10th positive trade in 11.
Stocks have been rising this week on the possibility of a peace deal between the US and Iran. The S&P 500, which fully recovered from losses from the Iran war on Monday, rose 3% this week. Meanwhile, the Nasdaq and Dow are up nearly 5% and more than 1% so far this week.
S&P 500, year-to-date
“Before[the war]started, market participants had some level of risk aversion in the expectation that things might get worse, but they thought that was probably unlikely, so they needed to buy,” said Thomas Martin, senior portfolio manager at Globalt Investments. “People don’t want to miss out on a rising market.”
President Donald Trump said in an interview with Fox Business on Wednesday that the Iran war is “very close to being over” and reiterated that Iran “wants to get a very strong deal”, giving investors more hope that the war may not last much longer.
A White House official told CNBC on Tuesday that a second round of negotiations between Washington and the Iranian government is under discussion. Nothing is officially planned yet, said the official, who requested anonymity to discuss internal administration planning.
“Will we ever get a deal that allows the Strait of Hormuz to open and reduces the rhetoric about stopping the flow of goods? The market seems to be saying they think it will happen,” Martin said.
broadcom was the main winner of Wednesday’s session, rising 4%. This comes on the heels of Meta Platforms expanding its partnership with Broadcom to deploy custom chips using the chipmaker’s technology.
