Trump Slams Iran’s Response to Peace Proposal as “Unacceptable,” U.S. Stock Rally Stalls

Odaily reported that the U.S. stock market broadly lacked clear direction, but strong corporate earnings prompted Wall Street strategists to continue raising their S&P 500 targets, while the market is still assessing the uncertainty around the duration of the Iran conflict. The S&P 500 opened roughly flat.

The strong performance of chip stocks continued to boost the benchmark index, with companies like Intel and Micron Technology standing out the most. The tech-heavy Nasdaq 100 index edged up 0.2%, while the Dow Jones Industrial Average fell 0.1%. "The market still believes a ceasefire deal can be reached," said Tom Essaye, founder of Sevens Report, explaining why stocks did not sell off more sharply after Trump described Iran’s response to his proposal to end the war as "totally unacceptable." (Jinshi Data)