2026.4.8 US Market Close | A mixed session as investors weigh Iran risk and await FOMC minutes

On April 8, the New York stock market closed mixed as heightened geopolitical risks related to Iran overshadowed the upcoming release of the FOMC minutes. Intraday volatility increased following strong remarks from President Trump, but the S&P 500 and Nasdaq managed to close slightly higher after reports suggested a possible extension of negotiations late in the session. - Dow Jones Industrial Average: Down 0.18% - Closed lower, reflecting caution over geopolitical risks. - S&P 500: Up 0.08% - Edged higher on relief from the potential extension of Iran-related negotiations late in the day. - Nasdaq Composite: Up 0.1% - Also closed with a slight gain, in line with the S&P 500. Key Issues - Iran Geopolitical Risk: The market plunged intraday on President Trump's tough rhetoric but staged a dramatic rebound on news that Pakistan proposed a two-week extension to the negotiation deadline. - Awaiting FOMC Minutes: Investors adopted a wait-and-see approach, looking for clues on the Fed's monetary policy path in the March FOMC minutes, set to be released the following day. - Volatile Oil Prices: West Texas Intermediate (WTI) crude oil surged over 4% intraday, surpassing $117 per barrel due to the Iran risk, but gave up all its gains to close lower on renewed negotiation hopes. - Upcoming Economic Data: Market focus is now shifting to the March Consumer Price Index (CPI) report, scheduled for release on April 10, which is expected to significantly influence the future path of interest rates. Key Stocks - UnitedHealth Group (UNH): Surged over 9% - Uncertainty eased on news that the 2027 Medicare payment rate increase was agreed upon at 2.48%, higher than market fears. However, a projected 41% drop in operating income for 2025 and risks from a Department of Justice antitrust lawsuit remain potential headwinds.