Stock Market Today, March 9: Markets Rally Back After President Trump Suggests Iran War Could Be Close to Ending
The S&P 500 (SNPINDEX:^GSPC) rose 0.81% to 6,794.34, the Nasdaq Composite (NASDAQINDEX:^IXIC) jumped 1.38% to 22,695.95, and the Dow Jones Industrial Average (DJINDICES:^DJI) added 0.50% to 47,740.79 as the market reversed course from sharp early losses tied to the Iran war–driven oil spike.
Market movers
Nvidia gained about 2.7% after a Morgan Stanley upgrade and growing AI optimism, helping lead tech’s rebound. Meanwhile, Live Nation Entertainment jumped nearly 6% after a Department of Justice settlement and supportive commentary from Goldman Sachs underscored the appetite for select event-driven winners.
What this means for investors
This morning, the S&P 500 opened down roughly 1.5% as crude oil futures skyrocketed toward $120 a barrel amid ongoing tensions in the Middle East. However, towards the end of the day, President Trump told a reporter that “the war is very complete, pretty much,” prompting the markets to spike and close up on the day. Crude oil futures reversed their course on the news and plummeted back down to the $80s per barrel.
This seems to be positive news, but it’s worth keeping in mind that none of it is “official” just yet. Furthermore, the delays in shipping across the Strait of Hormuz could have a number of knock-on effects farther downstream that are yet to be fully realized. While higher prices at the pump may not singlehandedly break the bank for consumers, it could be the tipping point for U.S. shoppers facing sticky inflation, higher home prices, potential tariff effects, and what seems to be a K-shaped recovery.
That said, this seems to be the perfect opportunity to just keep holding and not do anything dramatic, one way or the other. In years where the U.S. has faced a geopolitical or major historical event, the market has been higher one year later two-thirds of the time, so let’s not worry too much just yet.
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Josh Kohn-Lindquist has positions in Nvidia. The Motley Fool has positions in and recommends Goldman Sachs Group and Nvidia. The Motley Fool recommends Live Nation Entertainment. The Motley Fool has a disclosure policy.
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