S&P 500 hits record high as investors shrug off Iran war fears

MoneyWatch S&P 500 hits record high as investors shrug off Iran war fears .chip { background-image: url('/fly/bundles/cbsnewscore/images/chip-bgd/chip-bgd-moneywatch.jpg'); } By Mary Cunningham Mary Cunningham Reporter, MoneyWatch Mary Cunningham is a reporter for CBS MoneyWatch. She previously worked at "60 Minutes," CBSNews.com and CBS News 24/7 as part of the CBS News Associate Program. Read Full Bio Mary Cunningham April 15, 2026 / 3:30 PM EDT / CBS News Add CBS News on Google The S&P 500 surged to a new all-time high on Wednesday, as investors shrug off the hottest inflation in nearly two years and ongoing concerns about the economic impact of the Iran war.The rally marks a sharp reversal from late March, when the Dow Jones Industrial Average fell into correction territory — a drop of at least 10% from its recent high — after five straight weeks of losses, underscoring how quickly investor sentiment has shifted.Although the war has taken a toll on the U.S. economy, driving up gasoline prices and boosting inflation, the stock market has shown resilience, fueled by investor optimism that the conflict in the Middle East will eventually blow over. Don't mention the warDespite the U.S. this week imposing a blockade of Iranian ports, the prevailing view on Wall Street is that the conflict is likely to de-escalate, equity analyst Adam Crisafulli, head of Vital Knowledge, told CBS News."I feel like it's becoming the consensus view that this will be resolved, in which case the current impact from it, the economic fallout, will be brief," he said.In a Fox News interview on Wednesday, President Trump said the fighting in Iran is "very close to over."Scott Wren, senior global market strategist for Wells Fargo Investment Institute, expects the Middle East conflict to continue for weeks, not months. Investors are betting that the Strait of Hormuz, the vital chokepoint for global oil and other commodities, will reopen soo...