The S&P 500 (SNPINDEX:^GSPC) rose 0.80% to 7,022.95, and the Nasdaq Composite (NASDAQINDEX:^IXIC) climbed 1.59% to 24,016.02 as both set new all-time highs. The Dow Jones Industrial Average (DJINDICES:^DJI) slipped 0.15% to 48,463.72.
Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) both gained following strong quarterly earnings today. Shares in popular low-cost broker, Robinhood Markets (NASDAQ:HOOD) increased by more than 10% after the Securities and Exchange Commission approved a new proposal on day-trading rules for retail investors.
Allbirds (NASDAQ:BIRD) soared more than 580% after pivoting from footwear to an AI-focused business model, while ASML (NASDAQ:ASML) sank despite solid earnings.
The S&P 500 and Nasdaq both set new records today as stocks rebound on hopes of a U.S.-Iran deal. Traffic through the Strait of Hormuz remains restricted, and oil prices remain elevated though they fell slightly. Optimism about peace negotiations, combined with a strong start to the earnings season, buoyed markets.
Tech stocks, including some software leaders, helped lift the Nasdaq as investors regained some appetite for risk. Microsoft (NASDAQ:MSFT) and Oracle (NYSE:ORCL) extended their gains. ServiceNow (NYSE:NOW) and Salesforce (NYSE:CRM), which have taken a battering this year, were both in the green.
The economic impact of the recent energy price hike remains unclear, but markets are showing resilience. For long-term investors, maintaining a diversified portfolio with a mix of geographic, industry, and asset exposure remains a good way to navigate geopolitical upheaval.
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Bank of America is an advertising partner of Motley Fool Money. Emma Newbery has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends ASML, Microsoft, Oracle, Salesforce, and ServiceNow. The Motley Fool has a disclosure policy.