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Trump Declares End of Iran Conflict as Nasdaq Hits Record High and Bitcoin Gains 2.5%
President Donald Trump informed Congress on Thursday that U.S. military operations against Iran have concluded. The announcement came as the 60‑day deadline established under the 1973 War Powers Resolution expired, providing markets and investors with a clearer geopolitical signal heading into May.
Key Takeaways
- On May 1, Trump announced the “cessation” of military actions between the United States and Iran, effectively bypassing the 60‑day deadline outlined in the War Powers Resolution.
- Bitcoin rose 2.52% during the day to approach $79,000 and currently trades near $78,311 per coin, while the Nasdaq index reached a record high above 25,000 points amid strong corporate earnings and lower oil prices.
- Iran’s latest nuclear deal proposal, delivered through Pakistani intermediaries, was rejected by Trump, leaving negotiations unresolved.
Resetting the “War Powers Clock”: Trump Declares End of U.S.–Iran Military Action Amid Market Rally
On May 1, 2026, Trump sent an official letter to House Speaker Mike Johnson and acting Senate President Chuck Grassley, stating that military operations initiated on February 28, 2026, had “ended.” The White House used this declaration to argue that ongoing U.S. military presence in the Middle East no longer required new congressional authorization.
The conflict began when the United States, coordinating with Israeli strikes, launched military operations against Iran as part of what some reports described as “Operation Epic Fury.” The strikes targeted Iranian nuclear facilities, missile programs, military infrastructure, and leadership sites. Iran responded with retaliatory actions and briefly threatened shipping through the Strait of Hormuz. On March 2, 2026, Trump formally notified Congress, initiating the War Powers countdown.
A ceasefire took effect on April 7, 2026, and has since been repeatedly extended. No direct military clashes between U.S. and Iranian forces have occurred since then. The United States continues enforcing a naval blockade to limit Iranian oil exports, while negotiations toward a long‑term agreement proceed through third‑party mediators, including Pakistan.
Earlier this week, Trump told reporters that Iran had submitted a revised proposal, though he said he was “not satisfied” with it, describing Iranian leadership as “fragmented” and “divided.” He outlined two possible outcomes: a negotiated agreement or renewed military escalation, adding that he would “prefer” to avoid the latter “for humanitarian reasons,” while keeping the option available.
Trump also reiterated his view that the War Powers Resolution is “unconstitutional,” maintaining a position he has previously expressed.
Defense Secretary Pete Hegseth outlined the administration’s legal interpretation during Senate remarks, arguing that the ceasefire effectively pauses the 60‑day timeline. A senior administration official stated: “Under the [War Powers Resolution], the military action that began on Saturday, February 28, has effectively ceased.”
Democrats opposed this interpretation. Senator Tim Kaine argued that the U.S. naval blockade constitutes ongoing military action and that the legal justification stretches the meaning of the law. Republican senators blocked Democratic efforts to force a congressional authorization vote. Congress adjourned without taking action.
Markets responded positively to signs of easing geopolitical tensions and a strong earnings season. The Nasdaq Composite closed at 25,114, rising 222 points to a record high. The S&P 500 gained 21 points to close at 7,230, while the Dow Jones Industrial Average declined 153 points to 49,499.
More than 80% of S&P 500 companies reporting earnings this season exceeded profit expectations. Oil prices declined, with Brent crude settling near $108 per barrel and WTI around $99.55, down 2.6% from the previous session.
Nasdaq Composite on May 1, 2026
Gold traded between $4,580 and $4,636 per ounce, reflecting continued demand for safe‑haven assets amid inflation concerns and uncertainty in the Middle East. Silver traded between $72 and $75 per ounce. Both metals remain near historic highs.
Bitcoin traded near $78,311, gaining 2.52% during the day by the Wall Street close as broad risk sentiment supported both equities and cryptocurrencies. Bitcoin dominance remained near 60%. Ethereum added 1.88% to reach approximately $2,303.
Among other top performers, Hyperliquid (HYPE) gained 4.04%, while Dogecoin (DOGE) rose 2.96%. Most of the top 20 cryptocurrencies posted gains over the last 24 hours.
The U.S. economy expanded at an annualized rate of 2.0% in the first quarter of 2026, recovering from 0.5% growth in Q4 2025. Growth was supported by business investment, consumer spending, and favorable developments related to artificial intelligence.
The Federal Reserve maintained its benchmark interest rate within the 3.50–3.75% range, citing heightened uncertainty related to Middle East developments and inflation above the 2% target.
Trump linked a complete resolution of the conflict to lower energy prices, telling reporters that oil and gas prices would “collapse” once the war ended.
Although the ceasefire remains in effect, the situation is fragile. The U.S. naval blockade of Iranian oil exports continues, while Iran retains partial influence over the Strait of Hormuz. Negotiations remain ongoing through diplomatic channels.
The decision to declare military operations complete effectively resets the “War Powers clock” without ending the broader geopolitical confrontation, preserving flexibility for both renewed diplomacy and potential future military action.
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