S&P 500 Hits Fresh Record as Oil Extends Pullback on U.S.–Iran Deal Hopes
The S&P 500 reached a new all-time intraday high on Thursday as oil prices declined for a second consecutive session, supported by growing optimism that the United States and Iran are nearing an agreement to end the war.
The broad market index rose about 0.2%, while the Nasdaq Composite gained 0.6%, also marking a fresh record high. Meanwhile, the Dow Jones Industrial Average traded near the flatline. Strength in technology shares continued to lead overall market gains.
Oil prices remained under pressure, trading below the $100 per barrel level. U.S. West Texas Intermediate (WTI) crude futures fell around 3% to near $91 per barrel, while international benchmark Brent crude also slipped 3% to approximately $97 per barrel. The decline in energy prices helped ease inflation concerns that had previously weighed on investor sentiment.
Beyond geopolitics, solid corporate earnings further supported market momentum. Fortinet shares surged after the company raised its full-year billings guidance, while DoorDash advanced following an upbeat outlook for second-quarter orders.
The latest gains extended the previous session’s rally, during which both the S&P 500 and Nasdaq posted record closing highs and the Dow jumped more than 600 points. Market optimism strengthened after reports indicated that the White House is close to finalizing a one-page memorandum of understanding with Iran, aimed at ending the war and establishing a framework for further nuclear negotiations.
Source : Newsmaker.id
