Here’s why the stock market hit new record highs after Trump’s comments on Iran: by skleb1234
Despite stock futures plummeting overnight on reports that Iran launched a missile attack on U.S. military bases in Iraq, the market sharply rebounded on Wednesday. Stocks hit new record highs after Trump’s comments on Iran indicated a de-escalation of potential conflict.
At their worst levels of overnight trading, S&P 500 futures were down by as much as 1.6%, while the Dow shed more than 400 points.resulted in no casualties leaving observers less worried about a full-fledged war.late Wednesday morning, Trump stated Iran “appears to be standing down” and indicated there would be no armed response from the U.S., though he did pledge new economic sanctions on the Iranian regime.
The stock market breathed a sigh of relief, rallying to new records on the news: The S&P 500 and Nasdaq Composite indexes both hit all-time highs, rising by 0.66% and 0.80%, respectively. The Dow Jones Industrial Average also moved higher, up by 0.72%. Trump’s press conference “largely expressed a conciliatory message, reinforcing the notion that Washington is aiming to de-escalate tensions in the region,” says Adam Crisafulli, founder of Vital Knowledge.after ADP and Moody’s said U.S. private payrolls soared by 202,000 last month—far above the expected 150,000, which indicates the U.S. job market is still robust and can continue to support the U.S. economy’s moderate expansion.
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