S&P 500 Rises as Oil Eases, but Traders Stay Cautious Amid Iran Conflict
The S&P 500 advanced on Wednesday, extending the late-session momentum from the previous day as fears of a U.S. growth scare began to fade. Still, investors remained focused on developments in the U.S.-Israeli war with Iran, keeping risk appetite in check.
The broad benchmark gained 0.7%, while the Nasdaq Composite climbed 1.3%. The Dow Jones Industrial Average added 217 points, or 0.4%.
Sentiment was supported by a pair of stronger-than-expected U.S. data releases. ADP reported that private-sector employers added more jobs than anticipated in February. Separately, the U.S. services (non-manufacturing) sector posted better-than-expected growth last month, with signs that inflation pressures were easing.
The market’s upbeat reaction came as the recent surge in oil prices showed signs of cooling. U.S. Treasury Secretary Scott Bessent told CNBC that the United States would make “a series of announcements” aimed at supporting the flow of oil through the Persian Gulf. Brent and West Texas Intermediate (WTI) futures were both slightly lower in the latest trade, after ending Tuesday well off their intraday highs—though still up more than 4% on the day.
Newsmaker insight: equities are drawing support from resilient data and softer oil, but traders remain headline-driven and cautious as geopolitical risk around Iran continues to shape cross-asset moves.
