Markets Rally Amid Fragile Middle Eastern Truce and Fed Insights

Wall Street moved higher as a temporary cease-fire between Israel and Iran was announced. The Federal Reserve's future actions were awaited, with investors parsing Jerome Powell's testimony. The major U.S. stock indexes posted gains, with tech shares leading, despite geopolitical uncertainties and mixed economic indicators.

Wall Street registered gains on Tuesday amid a fragile ceasefire between Israel and Iran, as investors closely monitored Federal Reserve Chair Jerome Powell's testimony for insights into the central bank's future direction.

Despite a U.S. missile strike on Iran's nuclear facilities, major stock indexes were poised for their second consecutive session of robust gains. Even though Israel reportedly violated the ceasefire, President Trump's agreement was perceived as a move towards easing tensions.

Market analysts noted that any geopolitical tensions affecting U.S. financial markets often see short-lived impacts, as demonstrated by the recent geopolitical developments in the Middle East. While tech stocks led advances, energy shares dropped due to decreasing supply concerns.

(With inputs from agencies.)