The S&P 500 and NASDAQ rose to new heights on Thursday, adding to their strong gains this week on optimism for a possible resolution to the Iran war.
The Dow Jones Industrials recovered 80.07 points to break for lunch Thursday at 48,543.79.
The much-broader index regrouped 19.36 points to 7,042.31
The NASDAQ recovered 91.24 points to 24,107.26.
This week, the S&P 500 and NASDAQ gained 3%, and the NASDAQ has risen more than 5%, while the Dow has advanced more than 1%.
Stocks received a bump Thursday after President Donald Trump confirmed he spoke with Lebanese President Joseph Aoun and Israeli Prime Minister Benjamin Netanyahu. He added that Israel and Lebanon had agreed to a to a 10-day ceasefire, which will begin at 5 p.m. ET.
U.S.-listed shares of Taiwan Semiconductor shed $7.19, or 1.9%, to $367.92, despite reporting a record first-quarter profit, which increased by 58%, and beating analyst estimates. Revenue came in at 1.134 trillion new Taiwan dollars ($35 billion U.S.), compared to the NT$1.127 trillion expected, per LSEG.
For Washington and Tehran, a second round of negotiations is under discussion, but nothing has been officially scheduled yet. That’s according to a White House official who asked not to be named to discuss the administration’s internal plans.
Prices for the 10-year Treasury demurred, raising yields to 4.30% from Wednesday’s 4.28%. Treasury prices and yields move in opposite directions.
Oil prices moved ahead $2.25 to $93.54 U.S. a barrel.
Gold prices gained $3.20 to $4,826.80 U.S. an ounce.
