Market Updates
U.S. Stocks Power Ahead Overlooking Brewing Tensions in the Middle East
Barry Adams
22 Apr, 2026
New York City
Stocks in New York advanced, and investors overlooked escalating tensions in the Persian Gulf.
The S&P 500 Index edged up 0.5%, and the tech-focused Nasdaq Composite advanced 0.7% as investors remained focused on the latest flow of quarterly results.
Crude oil prices rose 1% to $90.53 a barrel amid growing speculation in the Middle East that the U.S. is amassing naval assets in the Persian Gulf under the pretext of ceasefire negotiations.
Oil traders in London and Abu Dhabi are speculating a surge in price of more than 50% in the event the U.S. carries out the widely anticipated ground invasion.
U.S. Movers
General Electric declined 5% to $286.73 despite the aerospace company reporting strong sales in the first quarter.
Revenue increased 25% to $12.3 billion from $9.9 billion, net income decreased to $2.19 billion from $2.24 billion, and diluted earnings per share were unchanged at $1.83.
The aerospace company held out for 2026 diluted earnings to range between $7.10 and $7.40 and cash flow to fall between $8.0 billion and $8.8 billion.
Best Buy Company declined 4.2% to $63.85, and the company named an insider, Jason Bonfig, as the next chief executive, replacing Corie Barry in late October.
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