The top US stocks barometer, the S&P500, closed up 0.5% at 3,253 on Wednesday. It hit a record high of 3,267 after President Donald Trump refrained from launching a new offensive against Iran, which rained two US-Iraqi airbases with missiles on Wednesday without killing anyone.
The S&P500 measures the value of the 500 largest US corporations by market capitalization. Its previous record high was on Thursday, the first trading day of 2020.
The technology-heavy Nasdaq Composite Index closed up 0.7 percent at 9,129. It hit a record high of 9,169 on Wednesday, rewriting its 2020 peak from Thursday. The technology sector was the darling of Wall Street investors last year, lifting the Nasdaq by 36 percent for the index’s best performance in six years.
US stocks’ broad Dow Jones Industrial Average rose 0.6% to close at 28,745. The Dow also hit an all-time high on the first trading session of the year. The broad Wall Street barometer closed 2019 up 23 percent for its best performance in two years.
Trump, in an address to the nation on Wednesday, said the United States will never allow Iran to develop nuclear weapons. But he said Washington was still prepared to make peace with Tehran if its leadership “changed its behavior” indicating there would be no immediate US escalation in the conflict.