Wall Street S&P and Nasdaq Hit New Highs, Middle East Conflict Still Drives Uncertainty

Major News on US-Iran Conflict

(New York, April 27, CNA) Uncertainty over the potential development of the Iran conflict heightened over the weekend, leading to a synchronous rise in international oil prices. The U.S. stock market's Nasdaq and S&P 500 indices both hit new highs today, but their gains were curbed by the stalled peace talks with Iran.

According to CNBC, the S&P 500 index rose 0.12% to close at 7173.91 points. The Nasdaq Composite Index also gained 0.20% to finish at 24887.10. The Dow Jones Industrial Average fell 62.92 points, or 0.13%, closing at 49167.79 points.

U.S. President Trump on the 25th canceled plans to dispatch special envoy Steve Witkoff and son-in-law Jared Kushner to Pakistan for ceasefire talks with Iran, stating that related negotiations could be conducted via phone.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei stated that there are currently no plans for a meeting between Tehran and Washington.

According to AFP, Derren Nathan, Head of Equity Analysis at Hargreaves Lansdown, a British brokerage, said: "Hopes for a diplomatic breakthrough were probably quite slim to begin with, and markets are currently in a wait-and-see mode ahead of a busy week of corporate earnings and economic data."

Due to persistently high energy prices, the market widely expects the U.S. Federal Reserve (Fed) to maintain interest rates on the 29th, with the European Central Bank (ECB) and the Bank of England also expected to make similar decisions thereafter.

Technology giants including Apple and Meta Platforms, as well as automaker Ford and energy giant ExxonMobil, are among the companies scheduled to release important earnings reports this week.

AJ Bell analyst Russ Mould noted: "Positive corporate news has been continuous over the past few weeks, pushing stock prices higher." However, he added: "If high oil prices persist, it will put pressure on inflation, which could in turn become a headwind for economic growth." (Compiled by Ho Hung-ju) 1150428