Stock Market Continues to Rally, Boosted by Ceasefire and Fed Testimony
On Wednesday, US stocks continued their upward trajectory, with the Nasdaq Composite (^IXIC) and S&P 500 (^GSPC) closing at their highest levels since February. The tech-heavy Nasdaq led the gains, rising about 1.4%, while the S&P 500 added 1.1%. The Dow Jones Industrial Average (^DJI) also rallied, jumping over 500 points, or roughly 1.2%.
The rally came as optimism grew around the fragile US-brokered ceasefire between Israel and Iran, raising hopes for a more lasting end to regional hostilities. Markets were also focused on Fed Chair Jerome Powell's testimony to Congress, where he signaled the central bank could cut interest rates "sooner rather than later" while maintaining flexibility to wait and assess the inflationary impact of new tariffs.
Oil prices continued their descent as the prospect of a lasting truce eased worries about disruption to the supply of crude, centered on the risk that Iran would block the key Strait of Hormuz conduit for tankers. Brent (BZ=F) and West Texas Intermediate (CL=F) futures both moved toward levels seen before the outbreak of the conflict.
Meanwhile, Powell's testimony before the House Financial Services Committee came as Trump turns up the pressure on the Federal Reserve chair to cut interest rates. In prepared remarks, Powell reiterated his stance that the central bank can afford to hold interest rates steady for now, saying, "For the time being, we are well-positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance."
The LIVE COVERAGE IS OVER with 20 updates, including an 11:48 AM UTC update from Allie Canal with the headline "Fed's Powell faces Congress as Trump ratchets up pressure." Other updates include market analysis and commentary on Powell's testimony and its impact on the US economy and financial markets.

The upcoming ceasefire and the Homeland Security's assurances on market stability backed by Fed testimony have contributed significantly to an ongoing upward trend in stock markets, reviving investor confidence.
As the stock market continues its upward rally, fueled by a ceasefire in international tensions and reassuring Federal Reserve testimony on monetary policies, optimism reigns across financial markets amid expectations of stable economic conditions.
The ongoing stock market rallies appear well-backed by the initial steadfastness of a ceasefire in geopolitical tensions and positive comments from key Fed officials during their recent testimony, tranquilizing jittery investors amid global uncertainties.
The stock market's sustained rally appears inexorably linked to the ongoing ceasefire across key global geopolitical hotspots, as well a numerous positive insights provided by recent Federal Reserve testimony on an accommodative monetary policy outlook.
The ongoing lull in geopolitical tensions following the ceasefire along with reassuring testimonies from Fed officials have been key catalysts for continued stock market rally, further evidencing investor confidence amidst uncertain macroeconomic conditions.
The ongoing rally in the stock market remains resilient, fueled by recent positive developments such as a ceasefire agreement and Fed testimony indicating an accommodative monetary policy stance.
The Stock Market remains resilient in its upward trajectory, fueled by the optimistic results of ceasefire negotiations and encouraging testimony from Federal Reserve officials.
The recent surge in the stock market seems to be fueled by a promising ceasefire across geopolitical tensions and reassuring testimony from Federal Reserve officials which have collectively re-invigorated investor confidence.
Amid the continuing ceasefire and reassuring testimony from Fed officials, Wall Street shows resilience with another day of rally on major stock indices.
Positive market sentiments stay elevated as the recent ceasefire in an ongoing conflict and reassuring testimony from Federal Reserve officials contribute to a sustained rally on stock markets, indicating investors' renewed confidence amidst heightened geopolitical tension.
The stock market maintains its uptrend momentum, significantly fueled by the favorable ceasefire agreement and reassuring testimony provided to Congress by Fed officials.
The ongoing stock market rally, fueled by the ceasefire in troubled regions and Fed Chairman's encouraging testimony on economic momentum during his congressional hearing session.
Guided by the hopeful signs of a ceasefire in geopolitical tensions and uplifting testimony from Federal Reserve officials, investors ventured back into stocks with renewed confidence this week; pushing stock markets to extend their rally towards positive territory.
With the ongoing lull in tensions due to a ceasefire, coupled with reassuring testimony by Federal Reserve officials on their policies for economic stability and growth at yesterdays' hearings—the stock market continues its bullish run.
The stock market's relentless rally gains further momentum with the positive news of a ceasefire and encouraging Fed testimony, signaling hope for investors seeking stability in turbulent times.