US equity indexes traded mixed ahead of Wednesday's close amid speculation on an extension of the two-week Iran ceasefire, setting the stage for a lasting peace agreement between Washington and Tehran.
The Nasdaq Composite advanced 1.5% to 23,991.7 and the S&P 500 rose 0.8% to 7,023.3. The Dow Jones Industrial Average, however, declined 0.2% to 48,453.9.
The US and Iran are considering extending their two-week ceasefire to negotiate a peace deal, Bloomberg reported, citing a person familiar with the matter. Mediators are seeking technical talks to overcome the most contentious issues -- the reopening of the Strait of Hormuz and Iran's nuclear program -- preventing an agreement that would extend beyond next week, when an initial truce will expire, the person told Bloomberg.
Trump said the war with Iran was close to over, telling the world to brace for an "amazing two days," as the army chief of mediator Pakistan arrived in Tehran in a bid to prevent a renewed conflict, Reuters reported. Pakistan's military confirmed Field Marshal Asim Munir had arrived in Tehran, the news report said. A senior Iranian source told Reuters that Munir, who had mediated the last round of talks, was heading to Iran "to narrow gaps" between the two sides.
West Texas Intermediate crude oil futures fell 0.5% to $90.84, and Brent crude futures slipped less than 0.1% lower to $94.75. Both the WTI and Brent futures were up 1% earlier in the session.
Technology, consumer discretionary, communication services, and financials led gainers in the final leg of trading. Industrials and materials were among the decliners.
In company news, Morgan Stanley (MS) posted stronger-than-expected Q1 results as sharp gains in investment banking and trading activity helped boost revenue to a record.