The Standard & Poor's (S&P) 500 index and the tech-heavy Nasdaq composite notched record highs for the second straight day.
On the 16th (local time) on the New York stock market, the Dow Jones Industrial Average rose 115.0 points, or 0.24%, from the previous session to close at 48,578.72.
The S&P 500 rose 18.33 points, or 0.26%, to 7,041.28, while the tech-heavy Nasdaq rose 86.69 points, or 0.36%, to 24,102.70.
The S&P 500 and Nasdaq, which had set record highs the previous day for the first time in three months and six months, respectively, extended their run with fresh highs for a second day.
In particular, the Nasdaq extended its winning streak to 12 trading days, marking the longest run since 2009.
On the day, U.S. President Donald Trump said Israel and Lebanon had agreed to a 10-day formal cease-fire. He also said the United States and Iran had made much progress in talks, were very close to an agreement, and that the next round could be held over the weekend.
On this, Robert Phipps, a director at Per Stirling Capital Management, told Reuters, "War remains the single most important factor moving the markets."
Among sectors, semiconductors outperformed.
Shares jumped across the board, including AMD up 7.8% and Intel up 5.48%, after Taiwan's TSMC, the world's largest foundry (contract chipmaker), reported a record quarterly net profit in the first quarter that beat market expectations.
Social media platform Myseum said the previous day it would change its company name to "Myseum.AI" to reflect its focus on applying artificial intelligence (AI) technology, and shares surged 129% on the day.