New York Stock Market Continues to Rise Amid US-Iran Tensions

The New York stock market opened higher despite escalating tensions between the United States and Iran. The Dow Jones Industrial Average rose 347.90 points to close at 47,294.31; the S&P 500 and Nasdaq Composite also increased to 6,742.35 and 22,515.05, respectively.

One reason the stock market can still rise amid US-Iran conflict is the easing of concerns over the blockade of the Strait of Hormuz. White House National Economic Council Director Kevin Hassett said oil tankers have begun to pass through the strait in small numbers, indicating Iran’s capacity is limited. Additionally, Hassett mentioned coordinating the release of strategic petroleum reserves from multiple countries, with the possibility of further releases if necessary.

Ali Larijani, Secretary of Iran’s Supreme National Security Council, reportedly died in an Israeli military attack, demonstrating ongoing regional tensions. However, investors continued the previous day’s rally, and market sentiment remains strong. Mark Malek, Chief Investment Officer at Cybert Financial, noted that major indices did not fall significantly from pre-conflict highs, indicating a solid market foundation.

A key factor driving stock prices higher was the strong performance across all sectors. Delta Air Lines’ stock rose 4.24% after raising its first-quarter revenue forecast. Despite some declines in Eli Lilly’s stock due to market reassessment, the overall market continued its upward trend. European markets also showed gains.

Whether this market trend can continue remains uncertain. With global oil prices rising and important events like the Federal Open Market Committee meeting and rate decision approaching, investors are likely to remain cautious.