Wall Street "immunity" to the US-Iran conflict, market focus shifts back to earnings reports and fundamentals

Mars Finance News, April 15 — Two months have passed since the outbreak of the Iran-U.S. war, and although the situation remains unclear, after initial turbulence, Wall Street seems to be gradually tuning out these external noises. Since March 27, the S&P 500 index has rebounded nearly 10%, potentially marking its third consecutive week of gains. During the same period, the Nasdaq 100 index has risen about 12% in total, setting the longest streak of ten consecutive positive days since 2021. After five weeks of decline triggered by U.S.-Israel airstrikes, traders have now begun to ignore negative news from the Middle East and are once again heavily buying stocks. BCA Research Chief U.S. Investment Strategist Doug Peta said, “The stock market and the entire financial market don’t seem to be that worried about the situation in the Strait of Hormuz. As earnings season kicks off, company fundamentals are driving stock prices more strongly than headlines about Iran.” Senior strategist Ed Yardeni pointed out that the market is learning to “coexist” with the Iran-U.S. war and maintains the view that the S&P 500 bottomed out on March 30. (Jin10)