News & Politics

Stocks Hit New Record Highs After Trump's Speech on Iran Missile Attack

President Donald Trump addresses the nation from the White House on the ballistic missile strike that Iran launched against Iraqi air bases housing U.S. troops, Wednesday, Jan. 8, 2020, in Washington, as Secretary of Defense Mark Esper, Chairman of the Joint Chiefs of Staff Gen. Mark Milley, Vice President Mike Pence, and Secretary of State Mike Pompeo, look on. (AP Photo/ Evan Vucci)

The S&P 500 Index and Nasdaq have hit record highs after President Donald Trump’s speech on Iran’s missile attack against two bases in Iraq housing U.S. troops.

“Our great American forces are prepared for anything. Iran appears to be standing down, which is a good thing for all parties concerned and a very good thing for the world,” Trump said on Wednesday after Iran’s missile attack, which was launched in response to the airstrike that killed Gen. Qasem Soleimani, a top Iranian commander.

Trump said there was no harm to U.S. or Iraqi forces during the attack. Trump mentioned additional economic sanctions as a response.

“As we continue to evaluate options in response to Iranian aggression, the United States will immediately impose additional punishing economic sanctions on the Iranian regime. These powerful sanctions will remain until Iran changes its behavior,” Trump said.

After Trump’s speech, the S&P 500 index SPX gained 23 points or 0.7% at 3,260, the Nasdaq Composite Index COMP rose 66 points or 0.7% at 9,134 and the Dow Jones Industrial Average jumped 213 points or 0.7% to 28,797.

After the attack took place, Iran Foreign Minister Javad Zarif tweeted that Iran had “concluded proportionate measures in self defense” and that they “do not seek escalation or war.”

CNBC suggested that the stocks to monitor on Wednesday afternoon were Walgreens, Lennar, Boeing, and Marathon Oil.