US close: S&P 500, Nasdaq jump to new highs on ceasefire extension

22nd Apr 2026 23:13

(Sharecast News) - Wall Street stocks rose strongly on Wednesday, with the S&P 500 and Nasdaq hitting new record highs despite a renewed surge in oil prices, after Donald Trump announced the US would extend its ceasefire with Iran.

The Dow gained 0.7% to 49,490.03, its highest since 26 February, while the S&P 500 jumped 1.1% to a new high of 7,137.90 and the Nasdaq surged 1.6% to a fresh peak of 24,657.57.

US indices outperformed their European counterparts during the session, with all major indices across the Pond registering small to moderate losses.

"The uncertain status of talks between the US and Iran kept investors on edge on Wednesday, with a clear divergence in the reaction of US and European markets," said AJ Bell's head of financial analysis Danni Hewson.

"While Wall Street focused on the relief angle as the ceasefire between Tehran and Washington was indefinitely extended, markets on the other side of the Atlantic demonstrated greater impatience with the current state of limbo."

Late on Tuesday, US president Donald Trump said the US would extend the ceasefire with Iran while continuing the blockade of Iranian ports, arguing the extension was warranted due to what he described as a "seriously fractured" government in Tehran. The two-week ceasefire had been due to expire on Wednesday.

However, despite the extension, the timeline for talks remains uncertain, with reports from the New York Times and Axios suggesting vice president JD Vance's planned trip to join negotiations had been paused after US officials cited a lack of commitment from Tehran. Iranian state media later reported that negotiators had refused to attend, calling talks with the US a "waste of time".

The uncertainty, along with the news that Iran struck three commercial vessels on the Strait of Hormuz, sent Brent crude 3.5% higher to $101.91 a barrel, while WTI settled up 0.9% at $92.96.

On the macro front, US mortgage applications rallied 7.8% week-on-week in the seven days ended 17 April, according to the Mortgage Bankers Association, extending the prior week's 1.8% increase. Last week's increase came alongside a seve basis point reduction in benchmark mortgage rates, which tracked the pullback in long‑term Treasury yields as markets weighed the inflation outlook against rising energy prices. Applications to refinance a mortgage, which are typically more sensitive to week-to-week interest rate changes, jumped by 5.8%, while applications to purchase a home shot up 10% week-on-week.

In equity news, the share price of Philip Morris International jumped 7% after the American tobacco giant said it exceeded its own expectations in the first quarter, as its smoke-free alternatives division grew sales at a double-digit rate.

AT&T reaffirmed full-year guidance, sending shares in the US telecoms giant slightly higher, after first-quarter subscriber numbers beat expectations.

Shares in GE Vernova surged 14% after the US power generation equipment group raised its full-year guidance on the back of a huge jump in orders during the first quarter.

Investors gave a lukewarm reaction to Best Buy's news that it has promoted chief customer, product and fulfilment officer Jason Bonfig to the role of chief executive, succeeding Corie Barry. Shares finished 5% down.

Dow Jones - Risers

Boeing Co. (BA) $231.28 5.53%

Microsoft Corp. (MSFT) $432.92 3.45%

Cisco Systems Inc. (CSCO) $89.80 2.61%

Unitedhealth Group Inc. (UNH) $353.52 2.17%

Salesforce.Com Inc. (CRM) $189.80 1.44%

Dow Chemical Co. (DOW) $38.81 1.31%

Caterpillar Inc. (CAT) $808.87 1.05%

Amgen Inc. (AMGN) $345.92 1.00%

American Express Co. (AXP) $332.90 0.94%

Goldman Sachs Group Inc. (GS) $934.84 0.89%

Dow Jones - Fallers

Intel Corp. (INTC) $65.27 -2.71%

3M Co. (MMM) $145.78 -1.81%

Nike Inc. (NKE) $45.68 -1.53%

International Business Machines Corporation (CDI) (IBM) $251.86 -1.49%

Home Depot Inc. (HD) $339.50 -1.29%

Verizon Communications Inc. (VZ) $45.98 -0.63%

McDonald's Corp. (MCD) $300.07 -0.59%

Coca-Cola Co. (KO) $74.63 -0.09%

Johnson & Johnson (JNJ) $226.10 -0.03%

Dowdupont Inc. (DWDP) $0.00 0.00%

S&P 500 - Risers

Teleflex Inc. (TFX) $138.81 11.27%

Masco Corp. (MAS) $73.96 10.78%

Boston Scientific Corp. (BSX) $64.87 8.99%

Advanced Micro Devices Inc. (AMD) $303.46 8.62%

Micron Technology Inc. (MU) $487.48 7.49%

Philip Morris International Inc. (PM) $163.95 6.98%

Broadcom Inc. (AVGO) $422.65 6.26%

CenturyLink Inc. (LUMN) $9.26 6.07%

Seagate Technology Plc (STX) $579.88 5.70%

Boeing Co. (BA) $231.28 5.53%

S&P 500 - Fallers

Travel + Leisure Co (TNL) $65.78 -13.62%

Nektar Therapeutics (NKTR) $93.20 -11.89%

TE Connectivity Ltd (TEL) $221.04 -9.10%

United Airlines Holdings Inc (UAL) $91.71 -8.29%

FMC Corp. (FMC) $14.69 -7.44%

Equifax Inc. (EFX) $178.66 -7.15%

Booking Holdings Inc. (BKNG) $179.40 -6.17%

Under Armour, Inc. (UA) $6.11 -6.14%

Under Armour Inc. Class A (UAA) $6.32 -6.09%

Dollar Tree Inc (DLTR) $101.97 -5.98%

Nasdaq 100 - Risers

Micron Technology Inc. (MU) $487.48 7.49%

Broadcom Inc. (AVGO) $422.65 6.26%

Seagate Technology Plc (STX) $579.88 5.70%

Intuitive Surgical Inc. (ISRG) $483.62 4.66%

Sirius XM Holdings Inc (SIRI) $28.06 4.23%

Biogen Inc (BIIB) $190.07 4.21%

Adobe Systems Inc. (ADBE) $255.94 3.88%

Microsoft Corp. (MSFT) $432.92 3.45%

Western Digital Corp. (WDC) $389.10 2.97%

Cadence Design Systems Inc. (CDNS) $331.61 2.71%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.45 -10.47%

Booking Holdings Inc. (BKNG) $179.40 -6.17%

Dollar Tree Inc (DLTR) $101.97 -5.98%

Liberty Global plc Series A (LBTYA) $11.95 -5.83%

DENTSPLY Sirona Inc. (XRAY) $12.17 -5.66%

Hasbro Inc (HAS) $90.61 -5.63%

Liberty Global plc Series C (LBTYK) $11.59 -5.39%

American Airlines Group (AAL) $11.50 -5.23%

Expedia Group Inc. (EXPE) $264.60 -3.81%

T-Mobile Us, Inc. (TMUS) $188.92 -3.74%