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Wall Street’s main indices moved higher on Wednesday after U.S. President Donald Trump extended the ceasefire with Iran, even as uncertainty persisted over whether Tehran and U.S. ally Israel would adhere to the truce.

Trump said the indefinite extension of the ceasefire followed a request by Pakistani mediators. However, the U.S. Navy’s blockade of Iranian ports remained in place, and Iran seized two ships in the Strait of Hormuz.

The opening of the waterway, responsible for about 20 per cent of global oil supply, remains a key uncertainty for investors and continues to be a sticking point in negotiations.

Markets Cling To Optimism

The positive momentum despite geopolitical risks reflects investor confidence that the conflict will ultimately be resolved through negotiations rather than escalation.

“At some stage, this rally is going to come to a halt. But I don't think that the majority of investors feel that way at all,” said David Morrison.

At 09:50 AM ET, the Dow Jones Industrial Average rose 343.83 points, or 0.72 per cent, to 49,504.58, while the S&P 500 gained 45.98 points, or 0.65 per cent, to 7,109.99, and the Nasdaq Composite climbed 185.28 points, or 0.76 per cent, to 24,445.24.

Oil Near $100 Keeps Inflation Risks Alive

Oil prices hovering near the $100-a-barrel mark kept concerns of inflation alive, lifting the energy sector on the benchmark index by 1.2 per cent.

“It's possible that we see a continuation of negative headlines… but that doesn't mean that stocks will react meaningfully,” said Rick Gardner.

Tech Stocks Lead Gains; Semiconductor Index Hits Record

Information technology stocks emerged as the biggest contributors to gains, with the sector adding 0.6 per cent. The Philadelphia Semiconductor Index hit a fresh peak and was on track for its 16th consecutive day of gains, marking its longest streak on record.

Shares of Seagate Technology rose 2.2 per cent after Barclays upgraded the company’s rating to “overweight”.

Earnings Boost Investor Confidence

A strong earnings season reassured investors about the resilience of the U.S. consumer, often seen as the engine of the economy. GE Vernova advanced 13.3 per cent after raising its annual revenue forecast, while Boston Scientific gained 8.2 per cent following its first-quarter results. Shares of Boeing rose 1.6 per cent after reporting a smaller-than-expected quarterly loss.

However, United Airlines declined 3.7 per cent after forecasting second-quarter and full-year profits below Wall Street estimates due to higher jet fuel costs.

Key Stocks In Focus

Among other movers, Adobe rose 3.2 per cent after unveiling a share repurchase programme worth up to $25 billion, while Robinhood gained 2.9 per cent after its venture fund invested $75 million in OpenAI.

Meanwhile, Tesla, Texas Instruments and Southwest Airlines are scheduled to report earnings after markets close.

Market Breadth Positive

Advancing stocks outnumbered decliners by a 3.06-to-1 ratio on the NYSE and by a 2.63-to-1 ratio on the Nasdaq. The S&P 500 posted 26 new 52-week highs and one new low, while the Nasdaq Composite recorded 79 new highs and 26 new lows.