Stocks Rise to Record, Oil Drops on Iran Optimism: Markets Wrap
Investors also weighed inflation data and strong corporate earnings, with Snowflake jumping 36% and Dollar Tree rising almost 18%.
- On Thursday, the S&P 500 and Nasdaq reached record closing highs after reports indicated the US and Iran had reached a draft agreement to extend their ceasefire for 60 days.
- President Donald Trump must still approve the draft agreement, while Tasnim reported the ceasefire text has not yet been finalized or confirmed.
- Snowflake shares soared 36% following a five-year artificial intelligence deal worth US$6 billion with Amazon Web Services, while Eli Lilly advanced 4% after CVS Health restored Zepbound to coverage.
- US GDP growth was revised to 1.6% annualized while inflation hit its fastest pace in three years, yet earnings expectations are rising faster than stock prices.
- The S&P 500 is trading at roughly 21 times forward earnings, positioning markets for continued resilience as investors remain focused on strong corporate earnings despite broader economic risks.
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26 Articles
Stock Market Today: S&P 500, Dow Futures Inch Up - State Street SPDR S&P 500 ETF Trust (ARCA:SPY)
U.S. stock futures edged up on Friday after closing higher on Thursday, with all the major indexes gaining as investors kept a close watch on the Iran war developments. The U.S. and Iran have reportedly reached an agreement to extend the ongoing ceasefire by 60 days, but it is currently awaiting final approval from President Donald Trump. The agreement would allow traffic to flow uninterrupted through the Strait of Hormuz while the two sides neg…
S&P 500 And Nasdaq 100 Climb To All-Time Highs As US-Iran Ceasefire Extension Reports Lift Markets
The S&P 500 Index ($SPX) (SPY) closed up +0.58% on Thursday, while the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.05% and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.84%. June E-mini S&P futures (ESM26) rose +0.59% and June E-mini Nasdaq futures (NQM26) rose +0.88%, extending the day’s broad market gains. Stock indexes recovered from early losses to settle higher, with the S&P 500 and Nasdaq 100 both reaching new all-time highs …
Amid small gains in New York, the S&P 500 index and tech exchange Nasdaq broke records due to continued optimism surrounding AI. The potential deal between the US and Iran appeared to offer investors some relief, but the oil price remains stuck at 94 dollars. The AEX ended earlier 0.3 percent in the red.
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