Gotrade News - The S&P 500 closed at a fresh record high of 7,022.95 on Wednesday, gaining 0.80% in a single session. The Nasdaq Composite posted an even stronger showing with a 1.59% surge to 24,016.02, powered by tech sector strength and easing geopolitical tensions.
Key Takeaways:
- S&P 500 reached 7,022.95 and Nasdaq broke through 24,016 on the same day
- Fear & Greed Index shifted to the Greed zone at 56.5, up from 49.1
- Iran ceasefire hopes and TSMC's blowout earnings were the primary catalysts
President Trump declared the Iran conflict was "very close to over" and predicted oil prices would drop significantly. The statement immediately relieved weeks of geopolitical anxiety that had been weighing on markets.
The Fear & Greed Index moved into the Greed zone with a reading of 56.5, up from 49.1 in the prior session. This sentiment shift marks a recovery in investor confidence following the sharp late-March correction.
Technology and consumer discretionary stocks led the session's gains across the board. Materials, industrials, and utilities recorded the steepest declines among all sectors.
Tesla rallied nearly 8% after announcing progress on its AI5 chip for autonomous vehicles. TSMC shares also advanced following a 58% profit surge that beat analyst estimates.
The NY Empire State Manufacturing Index came in at 11, its highest level in five months and far above the consensus estimate of negative 0.5. This suggests US manufacturing activity is returning to expansion territory.
The 10-year Treasury yield stood at 4.283% while the 2-year sat at 3.755%. Markets are pricing in a 99.5% probability that the Fed will hold rates steady at its April meeting, providing clarity for investors.
Seeking Alpha analysts noted that the March correction actually reset the S&P 500 back toward the middle of its long-term channel. Earnings estimates are now inflecting upward across large, mid, and small caps, supporting current valuations.
Despite the new records, risks remain from elevated bond yields. The 20-year Treasury at 4.89% presents genuine competition for equity returns, suggesting investors should remain selective with positioning.
Sources:
- Benzinga, Stock Market Today: S&P 500 Nasdaq Record, 2026
- Benzinga, S&P 500 Settles at New Record High, 2026
