US equity markets climbed on Wednesday, with the tech-heavy Nasdaq Composite and the S&P 500 closing at fresh record highs amid a rally in technology stocks and positive momentum in cryptocurrency markets.
According to Yahoo Finance data, the Nasdaq reached an intraday all-time high of 24,016.02 and finished the session up 1.59%. The S&P 500 also marked a new record close at 7,022.95, gaining about 0.8% on the day. The broader move was driven largely by a 2.08% rise in tech names.
Bitcoin continued its recent advance, touching roughly $75,229 on Wednesday and rising about 1.07% over the prior 24 hours. BTC has climbed nearly 10% over the past two weeks, reflecting broader strength across crypto markets.
Market optimism was supported by signals from the White House suggesting the U.S.–Iran conflict may be easing. President Donald Trump said in remarks to Fox Business that the war was “very close to being over,” while noting any resolution would depend on a diplomatic agreement between the parties involved. He added that, were U.S. forces to withdraw now, it would take decades for the affected country to rebuild.
Fundstrat chief investment officer Tom Lee weighed in on the S&P’s gains, saying the market still has room to run as some investors remain sidelined while watching geopolitical developments. Speaking on CNBC’s Closing Bell and posting on X, Lee argued that markets tend to “bottom on bad news,” not on good news, implying that limited downside from geopolitics could leave room for further upside.
Lee also suggested the next leg of the rally may be led by crypto assets such as Bitcoin and Ether, along with heavyweight tech names often grouped as the Magnificent Seven and the broader software sector.
The day’s price action highlights investor sensitivity to both geopolitical headlines and risk-on flows into technology and digital assets. As always, analysts caution that developments in the Middle East, macroeconomic data, and central bank policy remain potential drivers of near-term market volatility.
This article aims to summarize the market moves and commentary from Wednesday. Readers are encouraged to verify data and consider multiple sources when making investment decisions.