Traders were active on the New York Stock Exchange during morning trading on April 17, 2026.
Stocks climbed on Tuesday, driven by the technology sector, as traders considered the chances of a possible U.S.-Iran agreement to end ongoing hostilities.
The Dow Jones Industrial Average gained 170 points, or 0.3%. The S&P 500 increased by 0.7%, and the Nasdaq Composite saw a rise of 1%. It’s worth noting that the markets were closed on Monday for a public holiday.
Shares of Micron Technology jumped 13%, as analysts expressed growing optimism. UBS, in particular, predicts the stock could climb over 100% due to advantageous long-term contracts. It ended last week positively but had begun this week down due to general declines in the memory chip sector.
Other memory chip stocks, like Seagate Technology and Western Digital, followed suit with gains of 3% and 8%, respectively. The Round Hill Memory ETF (DRAM) also rose by 12%.
President Donald Trump mentioned that negotiations with Iran were “progressing well” but cautioned that the U.S. could take military action if talks fail.
Additionally, the U.S. conducted a “self-defense” strike in southern Iran earlier on Tuesday. Tim Hawkins, a representative from U.S. Central Command, indicated that the targets included missile launch sites and Iranian vessels suspected of laying mines. He claimed the U.S. had shown “restraint during the ceasefire” period between the nations.
Following the strike, U.S. crude oil prices recovered somewhat, with West Texas Intermediate July futures down 2% to $93 per barrel, while Brent crude rose 4% to $100 per barrel.
Adam Crisafulli from Vital Knowledge noted that there is still a general belief that a diplomatic resolution will occur soon, raising the question of how much of this expectation has already been factored into market prices.
The S&P 500 had a 0.9% increase last week, breaking its longest streak of weekly gains since late 2023. The Dow saw a 2.1% rise, marking its third gain in the last four weeks, and the Nasdaq experienced a 0.5% increase, achieving its seventh rise in eight weeks.
Adam Parker, founder of Trivariate Research, stated, “There’s no doubt that strong fundamentals are contributing to market rises.” He added that earnings are expected to grow 23% this year and 16% next year, and there’s a reasonable argument that the price-to-earnings ratio has slightly contracted, despite rising earnings estimates and robust revenue growth.
A drop in oil prices has also positively affected stock prices recently, with U.S. crude falling 8.4%—its worst week since April 17.
However, oil prices remain significantly above their levels from the beginning of the year, with ongoing inflationary pressures leading to diminished expectations for the Federal Reserve’s supportive policies. Traders are now anticipating an 8.5% likelihood of a rate hike in July, up from 0.9% the previous month, as reported by CME Group.
