S&P 500, Nasdaq end at records on hopes for US-Iran peace deal
Investors cheer potential breakthrough in US-Iran talks, fueling risk appetite
Wall Street stocks jumped Wednesday, extending a global rally and lifting major indices to fresh records as oil prices tumbled amid hopes for a US-Iran peace deal.
The broad-based S&P 500 rose 1.5 percent to 7,364.99, a second straight all-time high, while the tech-rich Nasdaq Composite Index surged 2.0 percent to 25,838.94, also a second record in a row.
The Dow Jones Industrial Average rose 1.2 percent to 49,910.04.
Major index performance
S&P 500: up 1.46% to 7,365.09
Nasdaq Composite: up 2.03% to 25,838.94
Dow Jones: up 1.24% to 49,910.59
Biggest gainers
Chipmakers and AI-linked stocks led the rally after strong earnings and bullish forecasts:
Advanced Micro Devices (AMD) jumped nearly 19% after forecasting stronger-than-expected data center revenue.
Super Micro Computer surged about 24.5%.
NVIDIA climbed 5.7%.
Uber Technologies rose 8.5%.
Walt Disney Co gained 7.5% after upbeat earnings.
Biggest Losers
Energy stocks lagged as oil prices dropped sharply on hopes of easing tensions between the US and Iran:
Several oil and drilling firms retreated after crude prices fell nearly 8%.
Defensive sectors such as utilities and consumer staples underperformed amid the risk-on rally.
Market drivers
Investors reacted positively to reports that Washington and Tehran are moving closer to a possible framework agreement, easing fears of prolonged disruption in the Strait of Hormuz.
At the same time, corporate earnings continue to exceed expectations, especially in AI, semiconductors, and cloud infrastructure. Reuters reported that more than 80% of S&P 500 companies reporting so far have beaten analyst forecasts.
Analysts say the semiconductor sector has been the single biggest contributor to the market’s rebound since March, accounting for more than one-third of the S&P 500’s recovery from its 2026 lows.
