Stocks Hit Records as Earnings Strength and Iran Truce Extension Boost Risk Appetite – US Market Wrap

US equities climbed to fresh all-time highs as strong corporate earnings and President Donald Trump’s decision to extend the ceasefire with Iran helped revive risk sentiment after a two-day pullback. Bitcoin also advanced.

The S&P 500 rose 1%, extending what is already shaping up to be its strongest month since 2020. Semiconductor stocks gained for a 16th straight session, marking their longest rally on record. Boeing jumped after reporting solid first-quarter deliveries, while Philip Morris posted better-than-expected profit. In after-hours trading, Tesla moved higher after beating earnings estimates.

Trump’s decision to extend the ceasefire marked a step back from earlier threats to resume bombing if no agreement was reached by Wednesday’s deadline, easing fears of a renewed conflict that had pushed energy prices sharply higher.

Even so, uncertainty remains over whether the US and Iran can ultimately reach a broader deal. Tehran continues to maintain firm control over the Strait of Hormuz, regulating traffic through the key shipping route and firing on vessels, while the US has kept its blockade on Iranian-linked ships in place. Brent crude settled near $102 a barrel.