S&P 500 Recovers Pre-War Losses as Investors Bet on Iran Resolution

The S&P 500 closed 0.1% above its February 27 finish, erasing all losses sustained since the war began in late February. The rally was driven by investors betting on a resolution to the Middle East war. This optimism followed statements from Donald Trump that Iran wants to make a deal, despite a U.S. military blockade of ships leaving Iranian ports and the breakdown of weekend talks. The S&P 500 and Nasdaq composite indexes both rallied more than 1%, with the S&P 500 gaining 69.35 points to close at 6,886.24 and the Nasdaq Composite gaining 280.84 points to close at 23,183.74.