The stock market just did something it has never done before. On Wednesday, the S&P 500 closed above 7,000 points for the first time in its history — erasing every single loss tied to the Iran war and setting an all-time record in the process. The Nasdaq crossed 24,000. Bank of America and Morgan Stanley reported blowout earnings. Tech stocks surged. President Trump called it weeks ago. He said the market was going to boom. He was right. Here’s the moment the market crossed into history: BREAKING: The S&P 500 just CLOSED at an ALL-TIME HISTORIC HIGH after President Trump gained maximum leverage over the Strait of HormuzThe first time it's closed above 7,000 The NASDAQ ALSO surged to a new record, above 24,000Trump is reveling in it! pic.twitter.com/4pDWqeJy1p— Eric Daugherty (@EricLDaugh) April 15, 2026 The rally was driven by two big things: optimism that the US-Iran ceasefire holds, and a blockbuster start to earnings season. President Trump told Fox News on Wednesday morning that the war is “very close to over” — and the market responded immediately. Investors didn’t need a signed peace deal. They needed confidence. And Trump delivered it. The strategic picture matters here too: S&P 500 $SPY – Somehow the Trump administration took out Iran's leadership team and diminished their military assets while sending the stock market to new highs. pic.twitter.com/MrND4fVb8K— StockzOnTap | Liberty & Markets (@StockzOnTap) April 15, 2026 ABC News had the full breakdown: The S&P 500 rose 0.8% to close above 7,000 for the first time on Wednesday. The Nasdaq Composite gained 1.6% to reach an all-time high above 24,000. Investor optimism about ending the US-Iran conflict propelled the gains. President Trump signaled confidence that peace talks could resume “over the next two days,” boosting risk appetite and sending stocks to record levels. Tech megacaps led the rally, with Microsoft surging 4% and Tesla rising 7-8%. Bank of America and Morgan Stanley both gained following strong quarterly earnings results. The S&P 500 erased all losses tied to the Iran war, completing a two-week recovery to close at a new all-time high of 7,022.93. That’s a full recovery from the war-era losses — plus new records. In two weeks. It’s also Tax Day. This morning, the Treasury reported that 53 million Americans claimed new tax exemptions under Trump’s One Big Beautiful Bill — including no tax on tips, the overtime deduction, and enhanced senior deductions. The average refund this year is $3,462, up 11% from last year. Refunds are up 24% versus the four-year pre-Trump average. The Motley Fool put the day’s gains in context: On April 15, 2026, both major indices reached record levels: the S&P 500 gained 0.80% to close at 7,022.95 (+55.57 points), while the Nasdaq Composite surged 1.59% to 24,016.02. Technology stocks led the advance, with notable gainers including Microsoft (+4.64%), Oracle (+4.18%), ServiceNow (+7.29%), and Salesforce (+3.67%) — software and cloud companies that had “taken a battering this year” rebounding strongly as investor confidence returned. The market’s strength was primarily fueled by hopes of a U.S.-Iran peace deal and tech strength. President Trump indicated the Iran conflict was “close to over,” reducing geopolitical risk and easing energy market concerns. Lower taxes, record markets, a war winding down. That’s a lot happening on one Tax Day. OMG!!!The S&P 500 just CLOSED at an ALL-TIME HIGH of over 7,000 – NASDAQ ALSO hit a new record, above 24,000, after President Trump and U.S. forces gained full control of the Strait of Hormuz. pic.twitter.com/YB8fdV2sxY— Conservative Brief (@ConservBrief) April 15, 2026 President Trump told Fox Business this morning the market is “going to boom.” Based on today’s close, it already has.