Wall Street rose cautiously as traders attempted to ignore the potential inflationary impact of rising oil prices, given the lack of any sign of de-escalation in the Iran war.

Although most S&P 500 components rose, the index’s gains were limited. U.S. crude oil prices retreated from intraday highs but ultimately closed above $96 a barrel. Airlines shares surged on the news, with some executives saying bookings were strong as travelers rushed to lock in tickets ahead of potential fuel price increases. Bond yields fell in tandem with the dollar ahead of the Federal Reserve’s decision.

President Donald Trump abandoned efforts to recruit allies for the war and criticized those who publicly rejected his appeals, despite repeatedly claiming the conflict would end soon. The near-paralysis of the Strait of Hormuz has already severely damaged energy markets.

According to the Wall Street Journal, citing sources familiar with the matter, Russia is sharing satellite imagery and drone technology with Iran.

Alex Altman of Barclays stated that the U.S. stock market is sending its strongest buy signal in nearly a year.

He wrote that the Barclays Equity Timing Indicator (BETI) fell to its lowest point since the April tariff crisis and has reached a threshold that historically marks a “highly attractive” buy point.

In the countdown to the Federal Reserve’s decision, the market widely expects officials to keep interest rates unchanged, while the focus has shifted to how they will respond if the consequences of the war reverse their policy objectives.

[Disclaimer] Forex trading involves risk; invest with caution. This content is for informational purposes and objective analysis only and does not constitute any investment advice, buy/sell recommendation, or profit guarantee. Investors should make independent decisions based on their own financial situation and risk tolerance, and bear their own investment risks.