Stock prices leapt on Tuesday as an escalating war between the U.S., Iran, and Israel appears to have been avoided—at least for now. The S&P 500 jumped 1.11%, with share prices green across the board as investors relaxed after President Donald Trump announced a ceasefire on Monday evening.
Iranian cyberattacks have previously been an issue, with the U.S. Treasury Department last April sanctioning two Iranian companies and four individuals for a series of phishing and malware attacks against American companies and government employees that compromised upwards of 200,000 employee email accounts, allegedly in conjunction with the Iranian Islamic Revolutionary Guard Corps’ cyber division.
Beyond the threat of cyberattacks, more worrying for investors is Powell’s resistance to rate cuts, despite pressure from Trump. Powell said that he expects inflation to move up over the summer. “I don’t think we need to be in any rush because the economy is still strong, the labor market is strong,” he added.
