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The S&P 500 hit a new all-time intraday high on Thursday as oil prices fell for another day, buoyed by hopes that the U.S. and Iran were closing in on an agreement to end the war.
The Dow Jones Industrials index tumbled 146.83 points to open at 49,763.76.
The broader market grabbed 6.9 points to 7,372.11.
The NASDAQ jumped 151.92 points, to 25,990.86. The tech-heavy index also scored a fresh all-time high.
Along with declining oil prices, more strong quarterly results helped sentiment as well. Shares of DoorDash popped 8% after the food delivery giant issued rosy guidance for orders in its second quarter.
Meanwhile, Fortinet climbed 19% after lifting its full-year billings guidance.
Prices for the 10-year Treasury gained, dropping yields to 4.34% from Tuesday’s 4.35%. Treasury prices and yields move in opposite directions.
Oil prices dumped $4.42 to $90.66 U.S. a barrel.
Gold prices strengthened $66.80 to $4,761.10 U.S. an ounce.
