Gas prices hit a $4 a gallon milestone, up over $1 since the Iran conflict began, straining household budgets. Meanwhile, Brent crude hit $107 a barrel, reflecting fears of prolonged Middle East tensions. Analysts link market optimism to Trump’s rumored push for a swift Iran war end, though experts warn this may not ease economic pain.

Powell’s Fed remarks and hopes for reduced escalation briefly lifted stocks, but the S&P 500 remains down 9% from its January peak, erasing $12 trillion in value.