Wall Street Hits Record Highs

The S&P 500 and Nasdaq Composite notched historic closing records on Wednesday, effectively erasing losses incurred at the start of the Iran war.

Market sentiment was buoyed by Treasury Secretary Scott Bessent's optimistic outlook on energy prices and the arrival of mediators in Tehran.

Despite warnings from the World Bank about long-term economic disruption, traders are focusing on strong bank earnings and the potential reopening of trade routes.

This rally reflects a growing belief that the global economy can avoid a worst-case scenario from the ongoing regional hostilities.