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U.S. stocks are eyeing a move toward record highs, with the S&P 500, Nasdaq, and Dow Jones Industrial Average opening higher Wednesday, June 25.<\/p>\n
The S&P 500 opened 0.2% up, little changed in early trading after the benchmark index edged to 6,100 on Tuesday. Gains in the stock market saw the index hit its highest level since February, igniting bullish sentiment despite prevailing market conditions.<\/p>\n
Dow Jones Industrial Average, which notched gains on Tuesday despite Iran-Israel\u2019s delicate ceasefire, was flat. This outlook also has the Nasdaq Composite higher, 0.2% up at open, as investors factor in potential rate cuts and the possibility of Israel and Iran upholding the ceasefire.<\/p>\n
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The S&P 500 rose 1.2% on Tuesday, closing less than 1% from a new all-time high, with gains adding to upside momentum that saw the benchmark index push higher at the start of the week. Easing hostilities between Iran and Israel, and reports that Iran isn\u2019t seeking to block the Strait of Hormuz, a major oil passageway, buoyed markets. <\/p>\n
With the S&P 500 on the cusp of a new rally to record highs, investors in other markets have also turned bullish. Crypto was broadly higher, and oil prices plunged 7% to trade at levels last seen before the flare-up in Israeli-Iranian tensions, including U.S. attacks on Iran\u2019s nuclear sites.<\/p>\n
\u201cMarkets barely reacted\u201d to a violation of the Donald Trump\u2013brokered ceasefire, analysts at QCP noted.<\/p>\n