Stock market today: Nasdaq, S&P 500, Dow rise as ceasefire hopes lift Wall Street

Wall Street extended its rebound on Wednesday, with all three major US indexes finishing firmly higher as softer oil prices and fresh hopes of a ceasefire in the Iran conflict helped steady investor nerves. The S&P 500 (^GSPC) rose 0.76% to 6,578.35, the Dow Jones Industrial Average (^DJI) added 0.57% to 46,604.60, and the Nasdaq Composite (^IXIC) led the way with a 1.21% gain. The move kept alive a sharp turn in sentiment after a bruising stretch for risk assets and showed how quickly traders are willing to move back into equities when the geopolitical temperature cools even slightly.

The biggest driver was the sudden shift in tone around the Middle East. Markets reacted to signs that the current conflict with Iran could be moving toward some form of de-escalation, even if the path remains uncertain. Oil also pulled back from recent highs, giving equities breathing room. Brent crude settled just above $101 a barrel after falling roughly 2%, while West Texas Intermediate settled just above $100. That retreat mattered because higher crude had been one of the main reasons investors were worried about inflation, margins, and the broader economic drag from a prolonged conflict.

Even with oil still elevated, traders leaned into the view that the worst-case scenario may not be playing out right now. The rebound was broad enough to matter. Industrials, technology, consumer discretionary names, transports, aerospace and defense, and semiconductors were all highlighted as areas showing unusually strong two-day gains. That matters because rallies built on a narrow group of winners often fade quickly, while broader participation gives the move more credibility. Still, the market is approaching an important technical test, with the S&P 500 sitting only about 1% below a major resistance zone around its 200-day moving average near 6,640.

Key stocks in focus as Wall Street regains footing

Among individual movers, Eli Lilly (LLY) was one of the standout gainers after a new weight-loss pill won FDA approval. Lilly shares climbed to $956.04, up $36.27, or 3.94%. The approval added another chapter to the high-stakes obesity treatment race and gave healthcare investors one of the clearest stock-specific catalysts of the day. Rival Novo Nordisk (NVO) was also mentioned in the report, though this market roundup did not provide an intraday price quote for the stock.

Boeing (BA) also turned heads. Shares rose to $208.06, up $9.03, or 4.54%, after news of a seven-year defense production framework tied to missile-defense components. The stock also drew added attention ahead of the Artemis II launch window, giving investors a mix of defense and space-related momentum. Lockheed Martin (LMT) was cited alongside Boeing in the defense production story, but the article only noted that the stock rose 1.3% and did not list a quoted share price.

In airlines, Delta Air Lines (DAL) gained ground despite the pressure that expensive jet fuel can place on margins. Delta stock traded at $67.81, up $1.32, or 1.99%. That move stood out because airline investors have had to weigh two opposing forces at once: higher fuel prices on one side and the possibility of a quick normalization in costs if geopolitical tensions ease on the other.

The day’s sharpest downside move belonged to Nike (NKE). Shares dropped to $44.72, down $8.10, or 15.33%, after the company issued a weak outlook. The report noted that the stock fell to its lowest level since 2015, a striking marker for a company once seen as one of the market’s most dependable global consumer brands. Management pointed to pressure from China, inventory issues, and margin strain, while investors focused on forecast revenue declines of 2% to 4% in the fiscal fourth quarter.

Another major headline came from SpaceX, which was reported to have confidentially filed for an IPO. While the company is not yet a regular public-market ticker in the same way as listed names, the report said it could seek a valuation above $1.75 trillion, with some expectations that fundraising could reach as much as $75 billion. That added an extra layer of market excitement on a day when traders were already more willing to embrace risk.

The article also named several technology stocks after Iran’s Revolutionary Guard threatened action against Intel (INTC), Oracle (ORCL), Microsoft (MSFT), Apple (AAPL), Alphabet (GOOG), Meta Platforms (META), Palantir (PLTR), and Nvidia (NVDA). No intraday prices for those names were listed in the report, but their inclusion underlined how quickly geopolitics can spill into the market narrative even when the broader indexes are rising.

Economic data, inflation concerns, and the next test for stocks

There was also fresh economic data for investors to absorb. ADP said private employers added 62,000 jobs in March, comfortably above expectations for 40,000. Retail sales rose 0.6% month over month, slightly ahead of forecasts and another sign that consumer demand had not rolled over before the latest war-driven energy spike fully hit the data. For a closer look at the private payroll release, investors can review the latest update from ADP’s employment report.

That said, the macro backdrop is hardly calm. Bank of America economists warned that the US may be slipping into a period of mild stagflation, trimming their 2026 US growth forecast to 2.3% and lifting their 2026 inflation forecast to 3.6%. They also now expect oil to remain near $100 a barrel through the rest of the year in their base case. In the bond market, the 2-year Treasury yield was noted around 3.8%, after touching 4% on March 27, a reminder that rate expectations remain under pressure.

For now, though, the tape is telling a simpler story. Investors saw falling oil, cooling war rhetoric, stronger-than-feared economic data, and enough high-profile corporate news to justify buying risk again. The Nasdaq’s leadership suggested traders were comfortable moving back into growth, while the Dow’s advance showed the rally was not limited to one corner of the market. If the S&P 500 can push through the 6,640 to 6,660 area, bulls will argue this rebound has room to run. If it stalls, the next round of selling could come quickly. Either way, Wednesday’s action showed that on Wall Street, headlines can still move just as fast as fundamentals.