U.S. Stocks Hit New Highs Amid Hopes of U.S.-Iran Peace Deal and Tech Surge
The S&P 500 and Nasdaq futures soared close to record highs as discussions of a U.S.-Iran peace agreement offer potential stabilization of oil supplies. The tech sector rally, largely fueled by AI developments, also propelled stock gains. Investors anticipate a stable U.S. labor market, with significant job growth forecasted.
In a promising turn for global markets, the S&P 500 and Nasdaq futures reached near-record levels on Thursday, driven by hopes of a U.S.-Iran peace accord. As sources indicate potential progress toward a limited agreement to stabilize crude flows through the Strait of Hormuz, oil prices have fallen below $100 a barrel.
Technology and AI sectors have significantly contributed to the surge in U.S. stocks, with investors buoyed by strong corporate earnings and positive economic indicators. As of early Thursday, Dow E-minis gained 63 points, S&P 500 E-minis rose 7.75 points, and Nasdaq 100 E-minis increased by 23.75 points.
The resilient U.S. labor market underpins economic optimism, as private payrolls showed the largest growth in over a year. While investors stay hopeful for no immediate changes in the Fed's interest rates, corporate struggles continue as seen with Arm Holdings and Snap's premarket tumbles.
(With inputs from agencies.)
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