Stock Market News, April 15, 2026: S&P Hits 7000, Closing at First Record Since January

Surging tech stocks carried the S&P 500 and Nasdaq composite to new records on Wednesday, a milestone in major indexes’ rebound from war-fueled losses.

The S&P 500 closed above 7000 for the first time and hit its first closing high since January. The Nasdaq composite surged 1.6%, notching its first record since October and its 11th consecutive gain. The Dow pared losses, trading 0.1% lower.

Investors took in more positive signs on the state of the U.S. economy. Bank of America this morning said consumer spending held up despite a turbulent start to the year and rising prices at the pump, adding to a chorus of big lenders seeing resilience in the American economy.

While stocks shrugged off uncertainty around the Mideast conflict, oil prices did the same Wednesday, closing roughly flat. U.S. crude finished 1 cent higher at $91.29 a barrel as investors weighed President Trump’s declaration that the Iran war is “very close to over” against fears of a protracted closure of the Strait of Hormuz.

Luxury-goods stocks took a hit, meanwhile, after Birkin maker Hermès surprised investors with weak sales. Concerns that its once-indestructible business model is buckling are amplifying jitters about the effects of the war on discretionary spending.