U.S. stocks closed higher on Wednesday after an extension of the ceasefire in the U.S.-Israel war with Iran was announced, while investors continued to assess earnings results. The Nasdaq Composite, the S&P 500 and the Dow ended in positive territory.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 0.7%, or 340.65 points, to close at 49,490.03.Twenty-one components of the 30-stock index ended in positive territory, while nine ended in negative territory.
The tech-heavy Nasdaq Composite advanced 1.6%, to close at 24,657.57.
The S&P 500 gained 1.1% or 73.89 points, to end at 7,137.90. Out of 11 broad sectors of the broad-market index, seven ended in positive territory, and four ended in negative territory. The Information Technology Select Sector SPDR (XLK), the Communication Services Select Sector SPDR (XLC) and the Energy Select Sector SPDR (XLE) rose 2.3%, 1.4% and 1.1%, respectively, while the Real Estate Select Sector SPDR (XLRE) fell 0.7%.
The fear gauge, the CBOE Volatility Index (VIX), decreased 3% to 18.92. A total of 16.08 billion shares were traded on Wednesday, lower than the last 20-session average of 18.3 billion. The S&P 500 posted 31 new 52-week highs and five new lows, while the Nasdaq Composite recorded 118 new highs and 57 new lows.
U.S. Extends Iran Ceasefire
The United States will continue a ceasefire with Iran, President Donald Trump said, following a request for more time from Pakistan’s leaders. One of the reasons to extend the ceasefire is internal political instability in Tehran.
Despite scheduling talks, there is reportedly little engagement from Tehran. U.S. Vice President JD Vance was due to visit, but has put his plans on hold. Iranian officials say the talks were unproductive. But tensions remained high after Iran’s navy seized two container ships in the strategic Strait of Hormuz.
Q1 Earnings Results
GE Vernova Inc. GEV reported first-quarter 2026 adjusted earnings of $1.98 per share, beating the Zacks Consensus Estimate of $1.84 per share. Quarterly net revenues were $9.34 billion, ahead of the Zacks Consensus Estimate by 0.47%.
Moody’s Corporation MCO reported first-quarter 2026 adjusted earnings of $4.33 per share, beating the Zacks Consensus Estimate of $4.25 per share. Quarterly net revenues were $2.08 billion, which outpaced the Zacks Consensus Estimate by 0.38%.
Philip Morris International Inc. PM reported first-quarter 2026 adjusted earnings of $1.96 per share, which beat the Zacks Consensus Estimate of $1.82 per share. Quarterly net revenues came in at $10.15 billion, outpacing the Zacks Consensus Estimate by 3.26%.
AT&T Inc. T reported first-quarter 2026 adjusted earnings of $0.57 per share, beating the Zacks Consensus Estimate of $0.55 per share. Quarterly net revenues were $31.51 billion, above the Zacks Consensus Estimate by 1.01%.
The four companies currently carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Economic Data
For the week ended April 17, U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.9 million barrels from the previous week.
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