Wall Street Rallies as Markets Hit New Highs Amid Oil Drop and Geopolitical Calm
The stock market reached near-record highs as oil prices plummeted following a cease-fire between Iran and Israel, boosting risk appetite. The S&P 500, Dow, and Nasdaq all rose, with tech stocks leading gains. Oil futures hit their lowest since June, and investors are optimistic about a potential rate cut by the Federal Reserve, with Powell's testimony indicating a cautious outlook on interest rates amid inflation concerns.