The three major stock indexes on Wall Street ended higher across the board. Hopes that a cease-fire between the United States and Iran will hold, along with strong earnings from corporations, lifted shares. The Standard & Poor's (S&P) 500 index and the Nasdaq composite both set a record high.
On the 5th (local time), the Dow Jones Industrial Average on the New York Stock Exchange (NYSE) finished up 0.73% at 49,298.25. The S&P 500 rose 0.81% to 7,259.22, and the Nasdaq composite gained 1.03% to 25,326.13 at the close of the transaction.
Geopolitical risk from the Middle East eased, bolstering investor sentiment. U.S. Defense Secretary Pete Hegseth said the cease-fire is holding and that U.S. merchant ships passed safely through the Strait of Hormuz. Foreign Minister Abbas Araghchi, who leads Iran's negotiating team, also noted that talks are making progress.
Corporate earnings also supported the advance. According to financial data firm FactSet, about 85% of S&P 500 corporations that released first-quarter results beat market expectations. Tech strength stood out in particular. Big Tech corporations such as Alphabet and Amazon each hit a fresh all-time high, and the Philadelphia Semiconductor Index also surged 4.2%, notching a record high.
International oil prices, which had been soaring toward $120 a barrel, fell. Brent crude settled at $109.87 a barrel, down 4% from the previous session, and West Texas Intermediate (WTI) ended the transaction down 4% at $102.27.