Wall Street has roared back to record highs even as uncertainty ⁠over ⁠the conflict in Iran lingers, a risk highlighted by a steady ⁠drumbeat of CEO warnings about the economic toll of a prolonged period of high oil prices. The reason? Stocks look cheap. The S&P 500 ​is trading at the equivalent of 20.8 times its constituents’ expected earnings over the next 12 months. That price/earnings ratio is near its lowest in a year, suggesting U.S. stocks are a better buy now than at

Tim Cook, chief executive of Apple, at the Apple World Wide Developers Conference in Cupertino, Calif., June 6, 2022. The longtime chief executive of the iPhone maker said on Monday, April 20, 2026, that he will step down. He will be replaced by John Ternus, the company’s head of hardware engineering. (Jim Wilson/The New York Times) By KALLEY HUANG and TRIPP MICKLE Tim Cook, Apple’s CEO, said Monday that he would step down after nearly 15 years running an operation that rode

UnitedHealth opened the first quarter’s earnings season for insurers ⁠with ⁠a strong performance, raising its annual profit ⁠forecast and surpassing Wall Street expectations for quarterly earnings and revenue. The upbeat results gave a ​boost to the shares of the conglomerate, which has faced a series of setbacks over the past two years, including a cyberattack ‌on its technology arm, rising medical costs ‌and the killing of its insurance unit chief, which sparked a public ba

A speedboat armed with machine guns and operated by the Islamic Revolutionary Guard Corps draws nears U.S. Navy vessels transiting the Strait of Hormuz on May 10, 2021. Although much of the regular Iranian navy is destroyed, the IRGC can still deploy small, speedy boats like these to disrupt shipping. (U.S. Navy via The New York Times) By REBECCA F. ELLIOTT Shipping companies are facing confusion and uncertainty about the status of the Strait of Hormuz, the narrow passageway

U.S. stocks closed slightly ⁠lower ⁠on Monday, with each of the three major ⁠indexes coming off a third straight week of gains, as renewed U.S.-Iran tensions put the durability of a ​two-week ceasefire in question. Iran is considering attending peace talks with the U.S. in Pakistan, a senior Iranian official told Reuters, following moves by Islamabad to end a U.S. ‌blockade of Iran’s ports. However, a separate source said ‌Vice President JD Vance was still in the U.S., denyin

Investors will look to a heavy week of U.S. corporate results to further fuel a stunning rebound in the U.S. stock market, which has shaken off war-related concerns to reach record peaks. Hopes for a ​cooling of U.S.-Iran tensions have led to a sharp rally this month, culminating with major U.S. stock indexes minting fresh records in recent days. The benchmark S&P 500 (.SPX), on Wednesday posted its first record-high close since Jan 27, while the Nasdaq Composite (.IXIC), on

Jerome Powell, the Federal Reserve chair, in Washington, Oct. 24, 2025. Powell’s term as chair of the Federal Reserve ends on May 15, 2026, but it appears increasingly likely that he will stay on in some capacity at the central bank after that. (Caroline Gutman/The New York Times) By COLBY SMITH After years of criticizing the Federal Reserve’s leadership and trying to browbeat policymakers to slash interest rates, President Donald Trump is running out of time to install his p

Major U.S. banks delivered a split picture this ⁠week, ⁠as Middle East-linked market volatility lifted trading ⁠in the first quarter but clouded dealmaking prospects. Bank earnings are tracked beyond Wall Street, as they ​offer a real-time read on how households and businesses are navigating still-higher borrowing costs, spending pressures and an uncertain economy. Below are key trends from ‌the first-quarter results at top U.S. banks, ‌which often set the tone for the broade

Shipping containers at Port Manatee in Palmetto, Fla., April 1, 2025. War in the Middle East has upended the world economy, the International Monetary Fund said, warning in an April 14, 2026 report that disruptions to oil markets could slow growth, fuel inflation and raise the possibility of a global recession. (Scott McIntyre/The New York Times) By ALAN RAPPEPORT War in the Middle East has upended the world economy, the International Monetary Fund said earlier this week, war

The S&P 500 touched an intraday ⁠record ⁠high on Wednesday, its first ⁠since the U.S.-Iran conflict began, as hopes of a de-escalation ​in the war and robust earnings expectations drew investors back into risk assets. Reaching a fresh record ‌during an active geopolitical crisis ‌marked a shift in market positioning, with traders appearing more willing to price in ⁠less severe ⁠escalation risks, at least in the near term. U.S. President Donald Trump ​has said talks with Iran