US stocks near record high amid Israel-Iran ceasefire
Share this @internewscast.com

Traders appear convinced that the ceasefire means few disruptions to the oil market, which would have raised prices and cut into profits.

NEW YORK — U.S. stocks are hovering near their all-time high on Wednesday as financial markets take a pause after two significant days lifted by optimism that the Israel-Iran conflict will not interfere with the global crude oil supply.

The S&P 500 increased by 0.2% in early trading, standing just 0.7% shy of its record high. The Dow Jones Industrial Average stayed mostly flat as of 9:35 a.m. Eastern time, while the Nasdaq composite climbed 0.6%.

In the oil market, which has seen much of this week’s activity, crude prices steadied after dropping about $10 per barrel over the past two days. Benchmark U.S. crude went up 0.7% to $64.81 per barrel, though it’s still below its price before the Israel-Iran hostilities began nearly two weeks ago.

A fragile ceasefire between the two countries appears to be holding, at least for the moment.

On Wall Street, companies involved in the cryptocurrency industry jumped to some of the bigger gains as the price of bitcoin continued to steam ahead with investors willing to take on more risk. Coinbase Global, the crypto exchange, rose 7%, and Robinhood Markets gained 4% as bitcoin topped $107,000.

They helped offset a 5.3% drop for FedEx. It reported stronger profit and revenue for the latest quarter than analysts expected, but it gave a forecast for profit in the current quarter that fell short of expectations.

General Mills, the company behind Pillsbury and Progresso soups, fell 2.8% after reporting weaker revenue for the latest quarter than analysts expected, though its profit topped forecasts. It also said an underlying measure of profits could fall by 10% to 15% this upcoming fiscal year.

In the bond market, Treasury yields were holding relatively steady, and the yield on the 10-year Treasury rose to 4.32% from 4.30% late Tuesday.

Yields had dropped a day before after the chair of the Federal Reserve said it is waiting for the right moment to resume cutting interest rates. By lowering rates, the Fed could help give the economy a boost, but it could also offer additional fuel for inflation.

Fed Chair Jerome Powell told a House of Representatives committee on Tuesday that he wants to wait and see how President Donald Trump’s tariffs affect the economy and inflation before committing to its next move. Powell will speak before a Senate committee later Wednesday morning.

In stock markets abroad, indexes fell modestly in Europe after rising across much of Asia.

Stocks jumped 1.2% in Hong Kong and 1% in Shanghai for two of the larger moves.

“The world can now move on to face other difficult choices like tariffs and things like that,” said Frances Lun, CEO of GEO Securities in Hong Kong. “So I think the market is well on its way to rebound and could again reach new levels.”

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Copyright 2025 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.     

Share this @internewscast.com
You May Also Like
Portrait of the Dalai Lama.

Elderly Dalai Lama Sparks Tension with China by Announcing His Successor, Defying Communist Rule

THE Dalai Lama has reignited a long-standing feud with the Chinese government…

Shocking Incident: Naked Man Assaults Driver and Tries to Enter Car with Children in Broad Daylight

This is the startling event where a naked man assaulted a motorist…
Murkowski secures Alaska gains in tax bill as pivotal swing vote

Murkowski Clinches Key Tax Breaks for Alaska as Crucial Swing Voter

The 887-page bill that narrowly passed through the Senate — and is…
Mud-covered car pulled from water; divers nearby.

Eerie Find in Barnacle-Crusted Car Pulled from Water Unravels 15-Year-Old Cold Case

A RUSTING barnacle-covered car hauled from a lake could be a major…
Russia claims gains in Ukraine as US attention focuses on Iran war

Russia Reports Advances in Ukraine Amid US Focus on Conflict with Iran

On Monday evening, Russia announced that it had gained control over the…
Illinois Governor JB Pritzker to hit campaign trail with new running mate Christian Mitchell Wednesday

Governor JB Pritzker of Illinois to Begin Campaign Tour with New Partner Christian Mitchell on Wednesday

CHICAGO (WLS) — Christian Mitchell, chosen by Governor JB Pritzker to be…
Snake on a plane delays flight for 2 hours

Snake Causes Two-Hour Flight Delay

The snake turned out to be a harmless green tree snake, but…
CPD ICE hearing: Immigrant Rights Committee demands investigation into South Loop raid; Chicago police defend involvement

Immigrant Rights Committee Calls for Probe into South Loop Raid as Chicago Police Justify Their Role

CHICAGO (WLS) — At a City Council committee hearing on Tuesday, Chicago…
Jury reaches verdict on 4 of 5 counts in Diddy trial but is told to keep deliberating

Jury Decides on 4 of 5 Charges in Diddy Trial; Instructed to Continue Deliberations

NEW YORK (AP) — In Sean “Diddy” Combs’ sex trafficking trial, the…
Here's how Trump's 'Beautiful Bill' could impact Florida's AI laws

The Impact of Trump’s ‘Beautiful Bill’ on Florida’s AI Legislation

A provision of the bill could block states, including Florida, from enforcing…
Jaren Jackson needs procedure after agreeing to Grizzlies contract

Jaren Jackson Requires Procedure After Signing Grizzlies Contract

The Grizzlies have disclosed that Jaren Jackson Jr. will undergo a procedure…
Journalist arrested while covering anti-Trump protest granted bail amid deportation battle

Bail Granted to Journalist Arrested During Anti-Trump Protest Amidst Deportation Dispute

A Georgia immigration judge has allowed a Spanish-language journalist, who was detained…