{"id":61506,"date":"2026-05-01T16:38:23","date_gmt":"2026-05-01T20:38:23","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-surge-lifts-nasdaq-and-s-geopolitical-tensions-simmer-in-hormuz\/61506\/"},"modified":"2026-05-01T16:38:23","modified_gmt":"2026-05-01T20:38:23","slug":"tech-surge-lifts-nasdaq-and-s-geopolitical-tensions-simmer-in-hormuz","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-surge-lifts-nasdaq-and-s-geopolitical-tensions-simmer-in-hormuz\/61506\/","title":{"rendered":"Tech Surge Lifts Nasdaq and S&#038;P 500 to Records While Dow Falters; Geopolitical Tensions Simmer in Hormuz"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>The Nasdaq Composite and <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> reached fresh record highs<\/strong>, gaining <strong>0.90%<\/strong> and <strong>0.32%<\/strong> respectively, driven by a post-earnings surge in Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>).<\/li>\n<li><strong>The <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average diverged from the broader market<\/strong>, closing down <strong>121.20 points (-0.24%)<\/strong> as a <strong>5.7%<\/strong> drop in Amgen (<a href=\"\/stock\/AMGN\">AMGN<\/a>) weighed heavily on the price-weighted index.<\/li>\n<li><strong>Iran\u2019s Judiciary Chief Gholamhossein Mohseni Ejei signaled a desire for negotiations<\/strong> to end the ongoing conflict but warned that Tehran would not accept &quot;impositions&quot; or &quot;dictates&quot; from the United States.<\/li>\n<li><strong>UK Health Secretary Wes Streeting is reportedly preparing a leadership challenge<\/strong> against Prime Minister Keir Starmer, having allegedly secured the <strong>81 signatures<\/strong> required to trigger a contest.<\/li>\n<li><strong>Geopolitical rhetoric remains sharp<\/strong> as Iranian military advisor Mohsen Rezaei mocked the US Secretary of War&#39;s understanding of the <strong>Strait of Hormuz<\/strong>, asserting Iran\u2019s continued control over the vital waterway.<\/li>\n<\/ul>\n<h2>Tech-Led Rally Drives Nasdaq to Record Highs<\/h2>\n<p>Wall Street saw a tale of two markets on Friday as the tech-heavy <strong>Nasdaq Composite<\/strong> climbed <strong>223.33 points<\/strong> to close at <strong>25,115.64<\/strong>. The rally was spearheaded by Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>), which saw its stock jump approximately <strong>4.5%<\/strong> following a robust quarterly earnings report and optimistic guidance for its latest hardware lineup. The <strong>S&amp;P 500<\/strong> also benefited from the tech momentum, closing up <strong>23.31 points<\/strong> at <strong>7,232.32<\/strong>, marking a new unofficial record.<\/p>\n<p>In contrast, the <strong>Dow Jones Industrial Average<\/strong> struggled to maintain pace, falling <strong>0.24%<\/strong> to end at <strong>49,530.94<\/strong>. The decline was largely attributed to Amgen (<a href=\"\/stock\/AMGN\">AMGN<\/a>), which saw its shares tumble after issuing modest guidance targets that overshadowed an otherwise solid earnings beat. <em>Market analysts noted that the divergence between the indexes reflects the outsized influence of high-priced components in the Dow&#39;s unique weighting structure compared to the market-cap-weighted S&amp;P 500.<\/em><\/p>\n<h2>Iran Signals Diplomatic Opening Amid Hormuz Tensions<\/h2>\n<p>On the geopolitical front, Iran\u2019s Judiciary Chief <strong>Gholamhossein Mohseni Ejei<\/strong> delivered a dual message of diplomacy and defiance. Speaking via state media, Ejei stated that Tehran &quot;does not want war&quot; and is seeking a path toward negotiations. However, he emphasized that the Islamic Republic would not submit to external pressure, stating, &quot;We seek negotiations, not to accept dictates.&quot; This comes as reports indicate Iran has funneled a new peace proposal to US mediators in <strong>Pakistan<\/strong>.<\/p>\n<p>Despite these diplomatic signals, military rhetoric remains heated. <strong>Mohsen Rezaei<\/strong>, a top advisor to the Supreme Leader, publicly criticized the US Secretary of War, claiming the official &quot;lacks geography of Hormuz.&quot; Rezaei\u2019s comments follow a period of heightened naval tension where Iran has maintained a restrictive grip on the <strong>Strait of Hormuz<\/strong>, a move that has kept global oil prices elevated. <em>Traders remain cautious as the fragile ceasefire, in place since early April, faces pressure from continued US naval blockades of Iranian ports.<\/em><\/p>\n<h2>UK Political Turmoil: Streeting Ready to Challenge Starmer<\/h2>\n<p>In the United Kingdom, the <strong>Telegraph<\/strong> reported a significant escalation in internal Labour Party tensions. Health Secretary <strong>Wes Streeting<\/strong> is reportedly ready to launch a formal leadership challenge against Prime Minister <strong>Keir Starmer<\/strong>. Sources suggest Streeting has successfully gathered the <strong>81 signatures<\/strong>\u2014representing <strong>20%<\/strong> of Labour MPs\u2014necessary to trigger a leadership contest under party rules.<\/p>\n<p>The timing of the reported challenge coincides with growing unease within the party ahead of critical local elections. While Streeting\u2019s camp has officially maintained a stance of loyalty, the leak of a &quot;Plan for Government&quot; has fueled speculation that a transition of power could be imminent. <em>The political instability in Westminster adds another layer of uncertainty for European markets already grappling with inflationary pressures from the Middle East conflict.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways The Nasdaq Composite and S&amp;P 500 reached fresh record highs, gaining 0.90% and 0.32% respectively, driven by a 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