Wall Street’s major indexes continued to perform strongly as the S&P 500 rose 0.2% on Wednesday, just under 1% from its all-time high. The Nasdaq Composite rose 0.6% and also came close to its previous record, while the Dow Jones fell slightly by 47 points. The surge was supported by a drop in global oil prices, amid hopes that the ceasefire between Iran and Israel would hold. West Texas Intermediate (WTI) plunged 6% on Tuesday, helping to boost investor confidence.
Analysts have described the U.S. stock market as remarkably resilient, with a continued rally despite geopolitical risks and concerns about inflation due to tariffs. Investors are now focusing on new home sales data and Federal Reserve Chairman Jerome Powell’s latest testimony before the Senate Banking Committee. Powell is expected to maintain his stance that the Fed is not ready to cut interest rates as long as the true impact of tariffs on inflation remains unclear.
Separately, Goldman Sachs has upgraded Duke Energy shares to , with a new target price of $132, a 13% premium to the current closing price. Analyst Carly Davenport said that DUK’s current valuation is attractive given the prospects for growing electricity loads, generating investment, and a stronger financial position.
Overall, the U.S. stock market continued to outperform, buoyed by expectations that price pressures may be contained and that the Federal Reserve will ease monetary policy by year-end. With investor sentiment remaining bullish, Wall Street now needs just one more small push to set a new record in market history.
