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yesterday

Global Stocks Rally After Israel-Iran Ceasefire as Fed Holds Policy Steady

Bullish AI gains in Nvidia have driven the Nasdaq toward record highs with traders awaiting Fed guidance on tariffs

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A visitor stands next to an electronic screen displaying Japan's Nikkei stock prices quotation board as the average surged past an all-time record high scaled in December 1989, inside a building in Tokyo, Japan February 22, 2024. REUTERS/Issei Kato/File Photo

Overview

  • A ceasefire brokered by President Trump between Israel and Iran has held despite early violations, spurring global equity markets higher.
  • The S&P 500 is trading within 1% of its all-time high and the Nasdaq Composite notched a fresh peak following two days of gains.
  • Federal Reserve Chair Jerome Powell reiterated a “wait and see” approach on interest rates as he evaluates the economic impact of Trump’s tariffs.
  • Nvidia shares surged over 4% to a record valuation on sustained investor optimism around artificial intelligence deployment.
  • Mixed corporate outcomes influenced stock movements with Micron jumping on strong Q3 results while FedEx and General Mills shares declined after cautious forecasts.