The S&P 500 rose on Wednesday, moving closer to a new all-time intraday high, as investors remained hopeful about a possible end to the Iran war soon.
The Dow Jones Industrials dumped 205.84 points to break for lunch Wednesday at 48,330.15.
The broader index jumped 30.05 points to 6,997.43.
The NASDAQ gathered 246.72 points to 23,886.80.
The S&P 500 is now just 0.3% below its all-time high of 7,002.28, reached on Jan. 28.
Broadcom was a key winner in the session, rising 3%. This comes on the heels of Meta Platforms extending its partnership with Broadcom to deploy custom chips using the chipmaker’s technology.
Shares of Bank of America rose 1.5% Wednesday after earnings topped expectations, with Wells Fargo analyst Mike Mayo pointing to a surge in capital markets activity and improving efficiency as key drivers.
Prices for the 10-year Treasury took a step back, raising yields to 4.29% from Tuesday’s 4.25%. Treasury prices and yields move in opposite directions.
Oil prices regained 81 cents to $92.09 U.S. a barrel.
Gold prices faded $19.20 to $4,830.90 U.S. an ounce.
