Gotrade News - Global equity markets posted strong weekly gains, driven by hopes of a peace deal in the Middle East and crude oil falling below the psychological $100-per-barrel threshold. The S&P 500 closed at a fresh all-time high of 7,041.28, while the Nasdaq also reached a record at 24,102.70.
Key Takeaways
- S&P 500 rose 0.26% to a record 7,041.28 and Nasdaq gained 0.36% to 24,102.70, both closing at all-time highs
- Brent crude fell over 1% to $98.14 per barrel, WTI dropped 1.4% to $93.37, both below $100
- A 10-day Lebanon-Israel ceasefire began Thursday, with potential US-Iran talks over the weekend
The S&P 500 gained 18.33 points, or 0.26%, to close at 7,041.28, marking a fresh all-time closing high. The Nasdaq Composite rose 86.69 points, or 0.36%, to 24,102.70, also setting a record.
The rally was fueled by easing geopolitical tensions after a 10-day ceasefire between Lebanon and Israel began on Thursday. The prospect of US-Iran talks over the weekend added to optimism that the broader regional conflict could de-escalate.
Brent crude futures fell more than 1% to $98.14 per barrel, while US West Texas Intermediate dropped 1.4% to $93.37. Both benchmarks remained below the critical $100 level, providing relief for a global economy burdened by elevated energy costs.
The Strait of Hormuz, which typically handles one-fifth of global oil and gas supply, remains largely closed. However, expectations of diplomatic progress have reduced the geopolitical risk premium in commodity markets.
The MSCI Asia-Pacific index (excluding Japan) dipped 0.83% on profit-taking after a strong rally. The regional benchmark has surged 14% in April alone after dropping 13.5% in March.
Most global equity markets have returned to pre-escalation levels before the late-February conflict. One analyst noted a "strong contrast between what policymakers are saying about risks versus what the market is implying."
In currency markets, the dollar index stood at 98.24, near its lowest since March 2. The euro traded at $1.1782 near a seven-week high, while the Australian dollar held at $0.7167 near a four-year high.
Dollar weakness reflects market expectations that the Federal Reserve has more room to cut rates if geopolitical tensions ease. The Japanese yen weakened slightly to 159.48 per dollar.
Sources
- Investing.com, Stocks set for weekly gain, oil below $100 on peace deal hopes, 2026
- Bloomberg, FTSE 100 Live: UK Stocks Set to Rise, Iran Talks in Focus, 2026
