An end to the Iran conflict should rally stocks — but only briefly

Site SearchClearSEARCHAdvanced Search ➔Search ResultsSymbolsNo results foundAll NewsArticlesVideoPodcasts0 ResultsNo Results FoundAuthorsNo results foundSectionsNo results foundColumnsNo results found Michael BrushOpinion: Private-credit ‘cockroaches’ and record valuations threaten the stock market’s recoveryThe S&P 500 is expensive on 18 of 20 metrics and a private-equity logjam could force big investors to dump stocksLast Updated: March 21, 2026 at 9:52 a.m. ETFirst Published: March 19, 2026 at 2:18 p.m. ETShareResizeListen(7 min)Any relief rally once Middle East hostilities are over will likely be short-lived. Photo: Getty Images/iStockphotoInvestors hoping the stock market will resume its bull run once the Iran conflict winds down may be in for a rude surprise. These several factors will hold the U.S. market back. 1. Valuations are rich: The S&P 500 SPX looks expensive in 18 out of 20 valuation metrics, Bank of America said in a research note published in late February. Five were at or near record highs. About the Author Michael BrushMichael Brush is a columnist for MarketWatch. He is the publisher of the stock newsletterBrush Up on Stocks. Follow him on Twitter @mbrushstocks.Show Conversation (0)Back To TopA Dow Jones CompanyCopyright © 2026 MarketWatch, Inc. All rights reserved.Terms of UsePrivacy NoticeCookie NoticeArchive MarketwatchCustomer CenterContact UsNewslettersNewsroom RosterVirtual Stock ExchangeMarketWatch GuidesCopyright PolicyManage NotificationsCancel My SubscriptionCompanyDow JonesCode of ConductCorrectionsReprints & LicensingDigital Self ServiceYour Ad ChoicesCorporate SubscriptionsAccessibilityDow Jones NetworkThe Wall Street JournalBarron'sInvestor's Business DailyFinancial News Londonrealtor.comMansion GlobalDow Jones Smart MoneyIntraday Data provided by FACTSET and subject to terms of use. Historical and current end-of-day data provided by FACTSET. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.