Investors push the Dow to a new high amid progress in US-Iran negotiations, easing geopolitical tensions and Treasury yields.
Major US stock indexes rose on Friday, with the Dow reaching a record high for the first time since late February. The gains came as diplomatic efforts to end the US-Israeli conflict with Iran showed signs of progress, though sticking points remain over uranium enrichment and control of the Strait of Hormuz.
The S&P 500 extended its weekly winning streak to eight, driven by strong demand for AI-related stocks despite lingering concerns over economic fallout from the war. Treasury yields eased as investors weighed the potential for a near-term deal, while oil prices climbed amid persistent uncertainty.
US Secretary of State Marco Rubio indicated progress in negotiations but noted further work is needed. Markets remain cautious, with some investors sidelined until geopolitical risks fully subside, though optimism about a resolution persists.