Traders work on the ground on the New York Stock Exchange, March 17, 2026.
Brendan McDermid | Reuters
The S&P 500 rose on Tuesday as Wall Street constructed on the momentum seen within the earlier session amid developments within the Iran warfare.
The broad market index closed up 0.25% at 6,716.09, and the Nasdaq Composite climbed 0.47% to complete at 22,479.53. The Dow Jones Industrial Average added 46.85 factors, or 0.1%, to finish at 46,993.26.
Volatile oil costs and the fallout of the Iran warfare proceed to affect investor sentiment. On Tuesday, oil prices resumed their ascent, with international benchmark Brent crude rising 3% — solidly above the $100 mark.
Despite the rise in oil costs, the S&P 500’s client discretionary group was notably up 1% on the day, led by beneficial properties in Expedia Group and Booking Holdings. Strong income steering from airways Delta and American boosted these names. The sector is down greater than 2% this month, nevertheless.
Energy was the index’s main sector, including simply above 1%. The transfer places its month-to-date beneficial properties at greater than 4%.
Oil costs
Oil’s bounce got here after President Donald Trump urged on Monday {that a} coalition to guard transport alongside the Strait of Hormuz is still in the works. Then, on Tuesday, Trump stated in a Truth Social put up that the U.S. didn’t need assistance from NATO or different nations to hold out the escort plans.
“Fortunately, we have decimated Iran’s Military,” Trump stated within the put up. “Because of the fact that we have had such Military Success, we no longer “want,” or desire, the NATO Countries’ assistance — WE NEVER DID.”
Stocks eased from their highs following the put up whereas crude ticked greater, suggesting buyers hoped a coalition would happen.
“Investors remain hopeful that a quick and relatively painless solution to the situation will be found, and that it will prove to be the latest in a long, relatively unbroken series of dip-buying opportunities,” stated Steve Sosnick, chief strategist at Interactive Brokers. “There is also a fair degree of residual FOMO, which is why … small bounces morph into relatively substantial upward moves, even if a fundamental reason appears to be lacking.”
Oil costs have surged because the begin of the U.S.-Israel attacks on Iran on worries {that a} extended closure of the Strait of Hormuz might result in a worldwide disruption of power provides.
Wall Street is watching for additional developments on the warfare, particularly after Iran’s safety chief, Ali Larijani, was killed in airstrikes overnight. That’s in response to Israeli Defense Minister Israel Katz.
“Market participants may be assuming this is very similar to the Liberation Day tariffs imposed by the U.S., and that this will be a short-lived problem that ends once the U.S. chooses to withdraw from the military conflict,” stated Kristina Hooper, chief market strategist at Man Group. “I think that is a mistaken assumption. Tariffs are a relatively simple problem for markets because they can be unilaterally withdrawn whenever the U.S. chooses to do so. Wars, unlike tariffs, cannot be turned on and turned off like a switch.”
