The S&P 500 closed up approximately 2.4% near 6,496. The Nasdaq Composite gained roughly 3.3% to around 21,475. The Dow Jones Industrial Average added about 2.1% to close near 46,176, and the Russell 2000 moved higher across the same range. At one point intraday, the Nasdaq was up nearly 4%. About 77% of stocks advanced on the session.

The catalyst stemmed from reporting that said President Trump signaled willingness to end U.S. military operations in Iran, even if the Strait of Hormuz stays partially closed. Alongside this, Iran has also suggested it is willing to negotiate under specific demands. Those headlines were enough to flip the tape.

The reversal came one session after a rough March 30, when the S&P 500 slipped 0.4% and the Nasdaq dropped 0.7% as oil prices climbed and semiconductor stocks came under pressure. Tuesday’s bounce did not erase a painful quarter.

The S&P 500 ended Q1 down roughly 7%, its worst quarter since 2022, weighed down by oil-driven inflation fears, a tech pullback, and the Magnificent Seven sliding into correction territory. The Iran conflict defined the quarter. WTI crude settled Tuesday around $101–$102 per barrel after trading between $99 and $106 intraday.

Brent hovered near $104–$106, off from recent peaks above $110. The monthly oil gain in March was the largest in recent memory, and U.S. gasoline prices crossed $4 per gallon. Gold traded between $4,500 and $4,681 per ounce, consolidating after a run to record highs. Silver moved more decisively, posting gains of 3–7% in spot and futures markets to reach approximately $73–$75 per ounce.

Safe-haven buying lifted both metals through the month. De-escalation hopes trimmed some of that demand Tuesday, though prices stayed elevated. Bitcoin rose about 1.9% to approximately $67,798 after tapping $68,500. Ethereum gained roughly 3.9% to around $2,096. Both assets tracked equity markets closely, moving higher as risk appetite returned. The crypto fear and greed index remained in extreme fear territory but showed modest improvement.

U.S. Treasury yields eased slightly. The 10-year yield fell to around 4.30–4.31%, down roughly three to five basis points on the session. Federal Reserve Chair Jerome Powell noted that long-term inflation expectations remain “in check” despite ongoing Middle East uncertainty, which gave rate-hike fears some room to settle.

The bond market faces competing pressures. Sustained high oil prices could push inflation higher and force the Fed’s hand. At the same time, rising defense spending and war-related deficits could introduce fiscal concerns that push yields back up regardless of Fed posture.

Corporate earnings gave traders a secondary reason to stay in. Double-digit profit growth has held up across recent quarters, and artificial intelligence (AI)-related themes continued to attract institutional attention even as growth stocks pulled back.

Analysts expect volatility to carry into Q2. Markets remain sensitive to ceasefire progress, oil’s next move, and any shift in Fed language around inflation. A quick resolution to the Iran conflict could support a recovery in tech and growth stocks. A prolonged one keeps inflation risk on the table and financial conditions tighter than most models account for.

The Strait of Hormuz handles roughly 20% of global oil supply. Any disruption to tanker traffic there would move prices quickly and broadly. That chokepoint, not the battle lines, is what traders are watching now.

The next directional move across equities, crypto, metals, and bonds will likely come from a headline, either a ceasefire signal or a supply shock. For now, the day’s session showed that markets want to believe the worst is behind them. Whether that holds is another matter.

FAQ 🔎

• Why did the stock market go up on March 31, 2026? Reports that President Trump may halt U.S. military operations in Iran reduced geopolitical risk and gave investors reason to buy back into equities.
• How did Bitcoin perform on March 31, 2026? Bitcoin rose roughly 1.2% to approximately $66,798, tracking equity markets as risk appetite improved on Iran de-escalation hopes.
• What happened to gold and silver prices today? Gold consolidated near $4,500–$4,681 per ounce while silver climbed 3–7% to around $73–$75, supported by lingering safe-haven and industrial demand.
• Will the stock market continue to rise in Q2 2026? Analysts say a sustained Iran ceasefire could extend the rally, but elevated oil prices and inflation risk remain headwinds that could limit gains.

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