Wall Street's main indexes traded near record highs on Tuesday. AI-fueled optimism offset concerns over Middle East peace talks after recent U.S. strikes on Iran.
U.S. Secretary of State Marco Rubio said a deal with Tehran could 'take a few days.' Iran seeks release of $24 billion in frozen funds.
Brent crude rose 2.7% but stayed below $100. Global stocks wavered amid uncertainty over shipping through the Strait of Hormuz.
Semiconductor stocks led gains. Micron jumped 13.3%, Marvell Technology rose 7.4%. The Philadelphia SE Semiconductor index hit an all-time high, up 4.1%.
The Dow gained 73.76 points (0.15%) to 50,653.46. The S&P 500 rose 53.34 points (0.71%) to 7,526.81. The Nasdaq climbed 295.88 points (1.12%) to 26,639.85.
The S&P 500 and Russell 2000 touched intraday records. Eight of 11 S&P sectors were positive. Information technology subindex led with a 1.5% gain.
