The Iran conflict escalated three weeks ago, sending oil prices soaring by roughly 40% and causing a 3.6% drop in the S&P 500. The Dow Jones Industrial Average rose by 0.8%, while the Nasdaq Composite jumped by 1.2%. This rebound was followed by a significant increase in artificial intelligence and semiconductor stocks. Despite the conflict not ending, the Federal Reserve did not cut rates. Despite this, the market saw early signs of stabilizing, with White House economic adviser Kevin Hassett expressing confidence in resolving the conflict in the near term. Goldman Sachs CEO David Solomon suggested that the conflict could impact global energy supply chains in a lasting way, but warned that it could lead to more disruptions.