U.S.-Iran Talks Lift Stocks; Nasdaq Logs 11th Win

Diplomatic contacts between the U.S. and Iran reduced safe-haven demand on April 15, boosting risk appetite across markets and helping the Nasdaq Composite extend its winning run to 11 days. The Nasdaq rose 1.59% to 24,016.02, while the S&P 500 closed at a record 7,022.95, up 0.80% on the day. The Dow Jones Industrial Average slipped 0.15% to 48,463.72 as energy and industrial names lagged.

Stocks gained broadly outside the energy and industrial sectors after reports that talks could extend a ceasefire and lower the risk of disruptions to oil shipments through the Strait of Hormuz. Technology shares led the advance on the Nasdaq, while lower oil prices weighed on cyclical sectors tied to energy and industry.

Gold fell about 1.05%, settling near $4,791 per troy ounce on COMEX after an intraday high of $4,871.51. A weaker U.S. dollar, trading near a six-week low, offered some support for bullion, but profit-taking and reduced safe-haven demand pushed prices down. Market participants identified $4,900 as a key level for a sustained recovery in gold.

Silver moved higher, closing near $80.87 per ounce, up roughly 1.6%, as expectations for industrial demand and the softer dollar supported prices. Intraday trading held in the roughly $79 to $80-plus range.

The 10-year U.S. Treasury yield opened around 4.242%, easing from early-April highs near 4.34% that followed a March consumer price index monthly jump of 0.9%—the largest monthly increase since June 2022-and an annual inflation rate of 3.3%. Core inflation readings were softer than the headline figure. Fed funds futures and CME FedWatch pricing continued to reflect a “higher for longer” outlook, with markets pricing the federal funds rate at about 3.5% to 3.75% through May. Uncertainty over the planned departure of the Federal Reserve chair added an extra element of caution in rate expectations.

Bitcoin traded near $74,175, down about 0.4% for the session but holding above key support levels. The cryptocurrency has risen about 12.3% since geopolitical tensions escalated earlier in the month, supported by inflows into spot exchange-traded funds and corporate purchases. Traders noted resistance around $75,000 to $76,000.

Market participants cautioned that sentiment remains linked to the course of U.S.-Iran talks and to energy market developments. Any reversal in negotiations or a fresh shock to oil supplies could increase safe-haven demand and affect inflation expectations, altering conditions across equities, commodities and fixed income.