FINWIRES · TerminalLIVE
FINWIRES

S&P 500, Nasdaq Break Records as Iran Peace Deal Reportedly in Offing, AMD Helps Boost Technology

By

US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new all-time peaks, amid growing expectations of a peace deal with Iran and as quarterly earnings lifted the technology landscape.

The Nasdaq traded 1.5% higher at 25,704.2 after touching a record 25,708.84 intraday. The S&P 500 was up 1.2% to 7,346.5 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.2% to 49,892.6.

The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to the gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.

West Texas Intermediate crude oil futures sank 6.9% to $95.34, and Brent crude futures plunged 7.7% to $102.20.

In company news, Advanced Micro Devices (AMD) shares surged 17%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.

Related Articles

Japan

US Equity Markets End Higher as US Says Iran Ceasefire Holds, Oil Falls

US equity indexes ended higher on Tuesday after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force and crude oil prices declined.* Hegseth, speaking at a press conference, promised to press ahead with opening the Strait of Hormuz, while Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said Iran's military actions didn't rise to the level of restarting the war, according to the Wall Street Journal.* US job openings fell to 6.866 million in March from 6.922 million in February, according to the Bureau of Labor Statistics, versus the 6.85 million expected in a Bloomberg poll.* The Institute for Supply Management's US services index declined to 53.6 in April from 54.0 in March, versus expectations for 53.7 in a Bloomberg survey.* June West Texas Intermediate crude oil fell $3.71 to settle at $102.71 per barrel, while July Brent crude, the global benchmark, was last seen down $4.27 at $110.21.* Waters (WAT) shares rose 13%, the biggest gain on the S&P 500, after the company reported higher fiscal Q1 adjusted earnings and revenue.* Huntington Ingalls Industries (HII) shares fell 10%, the largest drop on the S&P, after the company's Q1 results.

Dow JonesNasdaq CompositeS&P 500$WAT$WII
Japan

US Equity Indexes Rise as Iran Ceasefire Remains Intact

US equity indexes were up ahead of Tuesday's close as crude oil futures fell after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force.The Nasdaq Composite was 1.1% higher at 25,338.1, after touching a record 25,361.05 intraday. The S&P 500 climbed 1% to 7,269.8, and the Dow Jones Industrial Average advanced 0.8% to 49,349.5.At a Pentagon briefing Tuesday, Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said Iran's military actions didn't rise to the level of restarting the war, according to The Wall Street Journal. Hegseth, speaking at the same press conference, promised to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.The statements follow Tehran's strikes in Hormuz and the United Arab Emirates amid rising tensions on Monday, fueling concern that the ceasefire was at risk.West Texas Intermediate crude oil futures dropped 4% to $102.45, and Brent crude futures slumped 4.5% to $109.92.

Dow JonesNasdaq CompositeS&P 500
Japan

US Equity Indexes Advance, Crude Oil Drops as Hegseth Confirms Iran Ceasefire Deal Intact

US equity indexes rose in midday trading on Tuesday as crude oil futures slumped after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains in force.The Nasdaq Composite traded 0.9% higher at 25,295.1, after touching a record 25,335.40 intraday. The S&P 500 climbed 0.7% to 7,252.3, and the Dow Jones Industrial Average advanced 0.5% to 49,187.7.Defense Secretary Pete Hegseth, speaking at a Tuesday morning press conference, said the Iran ceasefire remains in effect while promising to continue to press ahead with opening the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.At the Pentagon press briefing, Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said Iran's military actions didn't rise to the level of restarting the war, according to The Wall Street Journal. "No adversary should mistake our current restraint for a lack of resolve."The statements follow Tehran's strikes in the Strait of Hormuz and the United Arab Emirates on Monday, fueling concern that the Iran ceasefire was at risk of falling apart. Earlier this month, President Donald Trump told congressional leaders that "hostilities" with Iran have "terminated," addressing a critical 60-day deadline under a decades-old law meant to limit the use of military force without authorization from Congress, CBS News reported.West Texas Intermediate crude oil futures dropped 4% to $102.18, and Brent crude futures slumped 3.1% to $110.92.

Dow JonesNasdaq CompositeS&P 500