Wall Street Climbs on De-Escalation Optimism and Tech Strength

Major indices including the S&P 500 continued setting or approaching records, supported by hopes around the Iran truce extension, strong corporate earnings in AI-related sectors, and resilient risk appetite despite ongoing Gulf uncertainties.

Markets demonstrate forward-looking resilience, rewarding perceived diplomatic progress and sector-specific momentum while remaining alert to reversals in energy and geopolitical risks.

Politics: US-Iran Ceasefire Extended Indefinitely Amid Persistent Hormuz Tensions

President Trump extended the fragile ceasefire with Iran beyond its original two-week term, while the US maintained its naval blockade of Iranian ports and the Strait of Hormuz. Pakistani-mediated talks showed limited progress, with US envoys heading to Islamabad but Iran denying planned direct meetings and citing violations.

France Expands Nuclear Arsenal

President Macron announced an increase in warheads, stating “to be free, we have to be feared” amid rising global tensions.

European nations are proactively strengthening deterrence in response to international instability.

Nepal Election Landslide

Rastriya Swatantra Party (RSP), led by popular rapper Balendra “Balen” Shah, secured a dominant victory (potential supermajority) in March 5 elections, ousting traditional parties and positioning Shah as likely prime minister.

Youth-led reform movements are reshaping politics in South Asia.

Oil Prices Surge Past $100/Barrel

Hormuz blockade fears triggered historic volatility in energy markets, with prices spiking above $100 before partial recovery on de-escalation signals; G7 nations convened emergency talks amid inflation concerns.

Global energy supply remains dangerously fragile, exposing economies to sudden stagflation risks.

Iran Conflict Intensifies

US and Israeli airstrikes targeted Iranian oil depots, nuclear sites, and infrastructure, with death tolls reported in the hundreds to over 1,000 (including a school strike); Iran retaliated with missiles, blocked the Strait of Hormuz, and appointed Mojtaba Khamenei as new supreme leader after the prior leader’s death. Several US troops were killed.

Geopolitical escalation risks a wider regional war and immediate global energy disruption.

Public Opinion Poll Shows Low Support

A Reuters/Ipsos poll (conducted over the weekend) found only 25% of Americans approve of the strikes, with 56% saying Trump is too willing to use military force. This follows recent U.S. actions in Venezuela, Syria, and Nigeria.

Limited public backing could pressure the administration politically ahead of midterms, especially if casualties rise.

Congress Divided Over Unauthorized Strikes

The operation launched without congressional approval, prompting Democrats (including Kamala Harris, Hakeem Jeffries, and Rep. Chellie Pingree) to call it an "unauthorized war" and push for a War Powers Resolution. Some Republicans defend it, but efforts to limit further action are gaining urgency.

This tests constitutional war powers, with lawmakers demanding briefings and votes amid fears of broader escalation.

3 U.S. Service Members Killed, More Casualties Expected

The Pentagon confirmed three American troops (based in Kuwait) were killed and five seriously wounded in Iranian retaliatory strikes, the first U.S. combat deaths in this conflict. Trump stated in a video that "there will likely be more" casualties but operations are "ahead of schedule."

American losses have intensified domestic scrutiny and calls for congressional oversight, with Trump vowing to "avenge" the deaths.