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Trump heads to Situation Room for final determination on Iran as S&P 500 extends record with ninth straight winning week
President Trump posted that he will be meeting in the Situation Room to make a final determination on Iran. Meanwhile, the S&P 500 continues to climb, headed for a ninth consecutive winning week, with Dell surging over 30% on AI server demand and Gap tumbling 17%.
President Trump posted on social media that he will be meeting in the Situation Room to make a final determination on Iran, signaling that a decision on the proposed ceasefire extension and broader agreement with Tehran could be imminent. The announcement comes as markets continue to rally on optimism that a resolution to the conflict may be close at hand.
The S&P 500 is headed for a ninth consecutive winning week, a remarkable streak that has pushed the index to fresh record highs above 7,590. Tech stocks continue to lead the gains, with Dell Technology surging over 30 percent after delivering profits that blew past expectations and raising its outlook, citing powerful demand for AI computing infrastructure.
Not all sectors are participating in the rally. Gap is struggling to win back shoppers, with shares tumbling 17 percent after the retailer slashed its forecast for the year. Sales at its biggest brand, Old Navy, fell short of expectations, with management admitting the budget chain did not have the right offerings for shoppers, particularly missing the mark on dresses and seasonal categories.
Brent crude continued to decline, trading at approximately $91, down significantly from the peaks seen during the height of the Hormuz crisis. Ten-year Treasury yields are also retreating to around 4.44 percent, providing additional support for equity markets. The combination of falling energy prices and easing geopolitical tensions has created a favorable backdrop for risk assets.
Market participants are now closely watching for Trump's final decision on Iran, which could determine the trajectory for both energy markets and broader equity indices in the coming weeks. A successful extension of the ceasefire would likely provide further support to the rally, while any breakdown in negotiations could quickly reverse the recent gains, Bloomberg reported.
In the health sector, Bloomberg Intelligence reported that wearable diabetes monitors and insulin pumps are set for double-digit growth through the end of the decade. Companies like Dexcom, Abbott, and emerging players in the insulin pump market are expected to benefit from the accelerating adoption of continuous glucose monitoring technology worldwide.