The S&P 500 (SPX) is well in the green as both Israel and Iran appear to have begun a ceasefire.
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In the early morning of Tuesday, the Israel-Iran truce brokered by President Trump officially went into effect. However, it didn’t take long for both sides to accuse each other of violations. Israel said that Iran launched missiles after the truce, although Iran denied this accusation.
A few hours later, Trump announced that Israel was sending planes to attack Iran, but these plans later reversed course. “All planes will turn around and head home, while doing a friendly ‘Plane Wave’ to Iran,” said the president.
S&P 500 Marches Forward on Ceasefire Agreement
Both Israel and Iran have said that they will respect the truce if the other side does. Meanwhile, the S&P 500 continues to push higher in a very strong showing. The strength in the benchmark index preceded Trump’s ceasefire announcement as investors bet on a short-lived war that would have an insignificant effect on U.S. stocks. That bet seems to have materialized.
The S&P 500 is up by 0.80% at the time of writing.
