S&P 500 hits new all-time high as investors shrug off Iran war oil price spike

Iran warS&P 500 hits new all-time high as investors shrug off Iran war oil price spikeThe rebound over the past two weeks has been faster than the one following the Covid market crash in 2020 or when tariffs roiled markets in 2025.Listen to this article with a free account00:0000:00Traders work on the floor of the New York Stock Exchange on Monday.Michael M. Santiago / Getty ImagesShareAdd NBC News to GoogleApril 15, 2026, 1:37 PM EDTBy Steve KopackThe S&P 500 hit a new all-time high Wednesday, a remarkable turnaround for the broad-based stock index while the war with Iran continues and rising energy costs threaten global growth prospects.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The S&P 500 rose 0.5%, pushing the benchmark past its previous record high of 7,002.28, which it had notched Jan. 28. But U.S. equity markets have been on a roller coaster since the start of the year. After its January high, the S&P 500 plunged 9.8% to a low of 6,316.91 on March 30, driven by the U.S.-Israel war on Iran and the soaring price of oil.But in the two weeks since, markets appear to have adjusted to the constant uncertainty of the war. “As far as the stock market is concerned, the war is over until further notice,” Ed Yardeni, president of Yardeni Research, said. “It has also been another momentum-led rebound, similar to last year’s explosive rally that started on April 9, when President Donald Trump postponed his Liberation Day tariffs,” Yardeni said.The momentum Yardeni pointed to is a sharp rise in the shares of the biggest tech companies. Since the S&P's low on March 30, a fund that measures only the “Magnificent 7” mega-cap tech stocks is up 14.8%. A fund measuring the S&P 500 absent those seven companies is up 8.1%, he said.The “Magnificent 7” companies are Apple, Microsoft, Alphabet, Amazon, Nvidia, Meta and Tesla.Trump has extended his own war-related deadlines several times, paused some of the heaviest bombing...