The research aimed to investigate the impact of macroeconomic variables (exchange rate, interest rate, inflation, money supply) on the performance of the Iraqi Stock Exchange represented by the general market index, using the (ARDL) model. The study concluded that the performance of the Iraqi Stock Exchange witnessed fluctuations, due to the instability of the macro variables, and according to the (ARDL) model, in the short term, interest rates (I) and money supply (M) were negative in their impact on the market index (ISX), and the exchange rate (E) and inflation (N) had a positive role in the market. In the long term, the exchange rate (E), inflation (N), and money supply (M) had a positive role in the market. Among the recommendations is that interest rates should be given attention because they are a major variable in influencing financial markets, and this is what most economic schools have reached. When increasing the money supply, the size of investment in the financial markets must be taken into account, meaning that the increase must be directed towards investment and not just consumption.