Wall Street's "Immune" Response to US-Iran Conflict, Market Focus Back on Earnings and Fundamentals

BlockBeats News, April 15th. The Iran War has been going on for two months. Despite the ongoing uncertainty, Wall Street seems to be gradually tuning out these external noises after experiencing initial turbulence. Since March 27th, the S&P 500 Index has bounced back nearly 10%, poised to mark its third consecutive week of gains. Meanwhile, the Nasdaq 100 Index has risen by about 12% and set a record for the longest winning streak since 2021. After five weeks of decline triggered by the US air strikes, traders have now started to ignore the negative news from the Middle East and are buying stocks heavily.

Chief US Investment Strategist at BCA Research, Doug Peta, said: "The stock market and even the entire financial market do not seem to be so concerned about the situation in the Strait of Hormuz. As earnings season unfolds, company fundamentals are more powerfully driving stock prices compared to the headlines about the Iran situation." Senior strategist Ed Yardeni pointed out that the market is learning to "coexist" with the Iran war and is maintaining the view that the S&P 500 Index bottomed on March 30th. (Jinshi)