Relief rally lifts S&P 500 past 6,600 on Iran ceasefire speculation

Bulls push S&P 500 back above 6,600

The S&P 500 is back above the 6,500 mark, currently trading north of 6,600. This relief rally is being fueled by signals pointing toward a potential de-escalation in the Iran conflict and a reopening of the Strait of Hormuz. Whether that actually materializes remains to be seen; for now, it’s mostly rumors and early indications coming out of the Trump administration.

If we can hold and reclaim the 6,500 level into the end of the week, that would be a bullish signal. Fingers crossed!