US equity indexes ground higher as investors weighed Israel and Hezbollah's response to President Donald Trump's call to stop fighting in Lebanon, while technology extended gains amid strong jobs data.
The Nasdaq Composite edged up less than 0.1% to 27,100.7, with the S&P 500 advancing 0.1% to 7,606.6, and the Dow Jones Industrial Average higher by 0.2% to 51,203.4.
Utilities, energy, and technology were among the gainers intraday, while communication services led the decliners.
Trump said he believes a deal to reopen the Strait of Hormuz and extend the ceasefire with Iran is reachable "over the next week," CNN reported Tuesday. The fourth round of talks between Israel and Lebanon is underway in Washington, DC, where Lebanese negotiators hope to secure a halt to attacks on and occupation of the south, Al Jazeera reported on the same day.
Lebanese authorities said Hezbollah, an Iran-backed militant group, agreed to a US proposal for a ceasefire with Israel in which strikes on Beirut would stop, CNN reported. Trump declared Israeli forces would not move on Beirut after a call with Prime Minister Benjamin Netanyahu, the news report said.
Meanwhile, Washington won't remove sanctions on Iran in exchange for a full reopening of Hormuz, adding that any sanctions relief is conditioned on Iran giving up enriched uranium, Al Jazeera cited US Secretary of State Marco Rubio as saying on Tuesday.
Brent crude futures climbed 0.8% to $95.78, and West Texas Intermediate crude oil futures climbed 1.2% to $93.27. Both crude types were lower by more than 1% each earlier in the session.
US Treasury yields fell, with the 10-year down two basis points to 4.46%. The two-year declined less than one basis point to 4.05%.
In precious metals, gold futures edged up 0.3% to $4,519.20, and silver futures climbed 0.7% to $75.78.
Shares of Hewlett Packard Enterprise (HPE) surged 15%, among the top gainers on the S&P 500, after the tech giant reported fiscal Q2 earnings ahead of analysts' forecasts.
Marvell Technology's (MRVL) shares soared 29%, the biggest outperformer on the S&P 500, after multiple news outlets reported that Nvidia (NVDA) chief executive officer Jensen Huang called the chipmaker the next "trillion-dollar company."
In economic news, US job openings rose to 7.618 million in April, according to the Bureau of Labor Statistics, above the 6.866 million expected in a Bloomberg-compiled poll and up from the 6.887 million reported in March. The April print represents 4.6% of total employment, up from 4.2% in March and 4.3% a year earlier.
Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week. "Customers remain highly value-driven and price sensitive," Redbook said in a note.