US equity indexes traded mixed as technology topped sector charts, government bond yields sank, and crude oil futures diverged.
The Nasdaq Composite jumped 1.1% to 26,637.2, with the S&P 500 up 0.6% to 7,518.1. Both the gauges hit fresh all-time highs earlier in the session. The Dow Jones Industrial Average, however, fell 0.3% to 50,454.5.
Most US Treasury yields fell, with the 10-year down 7.7 basis points to 4.50% and the two-year down eight basis points to 4.05%.
Micron Technology's (MU) market capitalization touched $1 trillion for the first time after several bullish analyst reports. The chipmaker's shares soared 22% after midday, the top performer on the S&P 500 and the Nasdaq.
Among stocks with a market capitalization of more than $200 billion, nine in the top 10 are semiconductor companies, and the remaining one is a manufacturer of computer hardware, according to data compiled by Finviz.
The US is touting progress toward a peace deal with Iran to end the nearly three-month war, even amid fresh hostilities and uncertainty over the vital Strait of Hormuz, Bloomberg reported Tuesday. Security in the crucial energy waterway remained unclear Tuesday after the two sides exchanged strikes overnight, and the US Central Command pushed back reports suggesting the military was helping escort vessels.
Iran's top negotiator, Mohammad Baqer Qalibaf, was in Doha for talks with Qatar's prime minister on a potential deal, an official briefed on the visit told Reuters. Qalibaf returned to Iran after seeking agreement on the release of around $24 billion of frozen Iranian funds as part of the memorandum of understanding, the news report cited Iranian media.
West Texas Intermediate crude oil futures dropped 2.7% to $93.88, while Brent crude futures jumped 3.6% to $99.72.