Waller's Rate Comments Boost Wall Street Despite Iran Tensions

Wall Street's main indices rose on Thursday after Federal Reserve Governor Christopher Waller said he could support holding rates steady this month if data confirms that price pressures are cooling off.

The comments from Waller led traders to lower their bets on a hike, and could potentially dispel the gloom in markets following recent military exchanges between the US and Iran.

However, Waller cautioned that borrowing costs may need to rise if inflation data shows price pressures persist. According to the CME FedWatch tool, traders still expect a nearly 50% chance of a hike this month.

The S&P 500 posted 14 new 52-week highs and seven new lows, while the Nasdaq Composite recorded 51 new highs and 78 new lows.