Market Updates
Ten-Day Rally On Wall Street Faces Skepticism In Energy Markets
Barry Adams
15 Apr, 2026
New York City
Stocks on Wall Street meandered and struggled to extend a ten-day rally as investors held out for a diplomatic solution to the Persian Gulf conflict.
The S&P 500 Index and the Nasdaq Composite were nearly unchanged, and the yield on the 10-year U.S. Treasury note edged up to 4.27%.
The two widely followed benchmarks erased losses since the start of the U.S.-Iran war, and they approached close to record highs powered by the latest rally.
Crude oil prices jumped 1% to $92.08 a barrel in New York and gained 0.9% to $95.71 a barrel in London trading amid hopes of de-escalation in tensions in the Persian Gulf.
Since the start of the war on Iran, shipments of energy products have been disrupted through the Strait of Hormuz, driving up crude oil prices by more than 60% and jet fuel prices by more than 100%.
Benchmark indexes in New York, Tokyo, Frankfurt, London, and Paris have rebounded over the last two weeks, erasing nearly a 10% decline between February 28 and March 30.
U.S. Movers
Bank of America increased 1% to $53.82, and the financial services provider reported better-than-expected results in the first quarter.
The bank earned $1.11 per share on revenue of $30.4 billion, surpassing market expectations.
Morgan Stanley advanced 2.7% to $188.30 after the investment bank and asset manager reported better-than-expected first-quarter results.
The financial service provider earned $3.43 per share on $20.6 billion in revenue, significantly ahead of market expectations.
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