🔥 Wall Street’s “immunity” to the US-Iran war situation, market focus shifts back to earnings and fundamentals

According to Jinjitu, two months have passed since the outbreak of the war between the U.S. and Iran. Although the situation remains unclear, Wall Street is gradually filtering out external noise. Since March 27, the S&P 500 index has rebounded nearly 10%, and is on track to post a third consecutive week of gains. In the same period, the Nasdaq 100 index has risen by about 12%, marking the longest run of 10 straight up days since 2021. After five consecutive weeks of declines triggered by U.S.-Israeli airstrikes, traders have begun to ignore negative news from the Middle East and are stepping up purchases of stocks again. Doug Peta, Chief U.S. Investment Strategist at BCA Research, said that the stock market—and even the entire financial market—does not seem to be as concerned about the situation in the Strait of Hormuz. As the earnings season gets underway, company fundamentals are driving stock price trends more strongly than the headlines about Iran’s situation. …