New Delhi, April 11 -- The war may not be over, but investors are betting that the worst is. That optimism was enough to lift stocks to their best weekly performance of the year and could keep the rally going in coming days.

"The market senses, rightly or wrongly, that we are moving past the peak of uncertainty," says Keith Lerner, Truist's chief investment officer. Investors could wait until the war is clearly resolved before buying, but stocks are likely to move before then. "Markets in general don't wait until everything's fully worked out," he says.

The cease-fire announced on Tuesday led to the best day for the stock market in almost exactly a year. The Nasdaq Composite, which closed up 4.7% on the week, has already exceeded its pr...