Wall Street Hits New Highs as US-Iran Talks Raise Oil Price Hopes

Stocks rally on prospects for renewed negotiations, while oil prices drop on expectations of supply resumption

Apr. 14, 2026 at 9:24pm

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An extreme close-up of intricate gears, levers, and machinery in a banking vault, conveying a sense of the complex financial infrastructure that underpins the global economy.As tensions over the U.S.-Iran conflict ease, the financial markets reflect a renewed sense of stability and optimism.NYC Today

The S&P 500 index flirted with a record closing high on Tuesday as Wall Street advanced, buoyed by news of potential new peace talks between the United States and Iran. The prospect of a diplomatic resolution also pulled down oil prices and the U.S. dollar, as investors anticipated a potential easing of tensions and a resumption of energy supplies through the Strait of Hormuz.

Why it matters

The escalating conflict between the U.S. and Iran had roiled global financial markets, with oil prices spiking and stocks declining in the aftermath of the military confrontation. The possibility of renewed negotiations offers hope for a diplomatic solution that could stabilize energy supplies and ease broader economic uncertainty.

The details

The S&P 500 gained 1.17% to end at 6,966.78 points, nearing its record close of 6,978.60 set in late January. The Dow Jones Industrial Average rose 0.66% to 48,535.39, while the Nasdaq Composite gained 1.95% to 23,635.92. In Europe, the STOXX 600 index rose 0.99% but remained below its pre-war level. The U.S. dollar index fell 0.24% to 98.10 as the prospect of a diplomatic resolution reduced demand for the safe-haven currency. Oil prices also dropped, with Brent crude futures settling at $94.79 per barrel, down 4.6%, and U.S. West Texas Intermediate crude finishing at $91.20, down 7.87%.

  • On April 14, 2026, the S&P 500 flirted with a record closing high.
  • On April 14, 2026, the U.S. President said talks could resume in Pakistan over the next two days.

The players

Donald Trump

The President of the United States who said talks could resume with Iran in Pakistan over the next two days.

BlackRock

A $14 trillion asset manager that reported rising first-quarter profit, helping to recoup some of its losses so far this year.

Citigroup

A financial firm that beat first-quarter profit estimates, causing its shares to rise more than 3%.

JPMorgan

A financial firm that beat earnings expectations, but its stock lost 0.8%.

Karl Schamotta

The chief market strategist at Corpay in Toronto who commented on the market's expectations regarding a potential deal between the U.S. and Iran.

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What they’re saying

“We don't have a resolution yet but investors don't want to miss the rebound.”

— Burns McKinney, Portfolio manager at NFJ Investment Group, Dallas

“You have very clear guidance coming from the Trump administration that they're looking for an exit ramp here and that's playing into market expectations that there will eventually be a symbolic deal between the U.S. and Iran that allows attacks to cease and for Iran to let the strait reopen.”

— Karl Schamotta, Chief market strategist at Corpay in Toronto

What’s next

If a deal is reached between the U.S. and Iran, it could lead to a resumption of oil supplies through the Strait of Hormuz, further easing global energy prices and potentially boosting economic growth.

The takeaway

The prospect of renewed U.S.-Iran negotiations has buoyed financial markets, offering hope for a diplomatic solution to the conflict that could stabilize energy supplies and reduce broader economic uncertainty. However, the path to a lasting agreement remains uncertain, and investors will closely monitor the progress of any talks.