On April 16, the S&P 500 index reached a historic high during Wednesday's trading session, marking the first new high since the outbreak of the Iran war. The market's optimism regarding a de-escalation of the conflict and strong earnings expectations have attracted investors back to risk assets. Achieving a new high amid ongoing geopolitical crises signifies a shift in market risk pricing, with traders seemingly more willing to factor in lower escalation risks in the short term. When the conflict erupted last month, the stock market experienced a significant drop, and the oil market faced historic shocks, reigniting concerns over inflation and the outlook for U.S. interest rates. Since the conflict began on February 28, the S&P 500 index had fallen by as much as 9%, but did not meet the criteria for a confirmed 'technical adjustment,' while the Nasdaq and Dow Jones indices confirmed they had entered correction territory. The market is also supported by positive corporate earnings outlooks. Executives from major banks indicated that despite the impact of rising oil prices, American consumers remain resilient, and there is a healthy pipeline of merger and IPO projects.