Live Markets: US stocks rise on Iran ceasefire extension; Chip index posts historic winning streak

Avis Budget

22/04/2026 21:16

Main US indexes end higher with Nasdaq out front, up ~1.6%

Tech leads S&P 500 sector gainers; Real Estate weakest group

Dollar, gold gain; US crude up >3%; bitcoin up >4%

US 10-year Treasury yield edges up to ~4.31%

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US STOCKS RISE ON IRAN CEASEFIRE EXTENSION; CHIP INDEX POSTS HISTORIC WINNING STREAK

U.S. stocks rallied on Wednesday to snap a two-day skid for the S&P 500 and Nasdaq, after U.S. President Donald Trump extended the ceasefire with Iran, although uncertainty remained over whether it would result in any firm peace talks.

 Trump said the indefinite extension of the ceasefire followed a request by Pakistani mediators. However, the U.S. Navy's blockade of Iranian ports remained in effect, and Iran seized two ships in the Strait of Hormuz.

The Dow .DJI gained around 0.5%, while the S&P 500 Index .SPX rallied about 0.9%. The Nasdaq Composite .IXIC jumped about 1.4%. Both the S&P 500 and Nasdaq Composite scored record closing highs.

A majority of S&P 500 sectors rose on Wednesday. Tech .SPLRCT, up more than 2%, posted the biggest gain. Real Estate .SPLRCR, down 0.7%, was the biggest loser.

Other indexes notching record closing highs included the Nasdaq 100 .NDX, S&P 100 .OEX, the S&P 500 Tech sector .SPLRCT, the S&P 500 Growth Index .IGX, the S&P 500 Retailing Index .SPXRT, and the Russell 1000 Index .RUI.

And the PHLX Semiconductor Index .SOX not only tallied a record closing high, but in so doing, it scored its 16th straight daily gain. According to LSEG data, that's the chip index's longest daily winning streak in its history, going back to mid-1994. That said, traders are on edge, given that on the charts, it appears stretched to the upside.

Meanwhile, the Dow Jones Transportation Average .DJT collapsed more than 8% for its biggest daily drop since early April 2025. Of note, Avis Budget Group CAR.O, with a 37.8% slide, was responsible for 1,639 points, or more than 80%, of the DJT's 2,010-point drop on the day.

Here is a snapshot of where markets stood shortly after 4 p.m. EDT.

(Terence Gabriel)

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EARLIER ON LIVE MARKETS:

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HEDGE FUNDS ZIGGED WHILE EVERYONE ELSE ZAGGED, BOFA SAYS CLICK HERE

HOME IMPROVEMENT: MORTGAGE RATES DIP, APPLICATIONS PICK UP CLICK HERE

US STOCKS RISE AS INVESTORS CHOOSE OPTIMISM REGARDING IRAN CLICK HERE

INVESTORS ARE YET TO NOTICE AI EFFICIENCY IN EMERGING MARKETS, SAYS HSBC CLICK HERE

TOO FAR, TOO FAST? SOX STRETCH RAISES RED FLAGS CLICK HERE

HALF-TIME IN EUROPE: WAITING FOR THE NEXT MOVE CLICK HERE

STOCKS STILL AT RISK AS WAR DRAGS CLICK HERE

CEASEFIRE EXTENSION STEADIES THE SHIP CLICK HERE

EUROPE BEFORE THE BELL: EXTENDED CEASEFIRE, EXTENDED UNCERTAINTY CLICK HERE

INDEFINITE CEASEFIRE, MARKETS UNBOTHERED CLICK HERE

Close04222026 https://fingfx.thomsonreuters.com/gfx/buzz/mypmyqkodpr/Close04222026.png

(Terence Gabriel is a Reuters market analyst. The views expressed are his own)