Stocks rally on geopolitical optimism and lower crude prices, while US jobless claims exceed estimates for the first time in weeks.
The S&P 500 closed at a record high, gaining 0.4%, as optimism over potential peace deals in Ukraine and Lebanon weighed on oil prices. WTI crude fell $2.91 to $93.11, easing inflation concerns amid Fed commentary on policy readiness.
US initial jobless claims rose to 225K, above the 213K estimate, while continuing claims dipped slightly to 1.777M from 1.780M. The data followed mixed signals from Fed officials, with Schmid citing inflation as the top risk and Daly noting policy flexibility.
The dollar weakened, with CHF leading gains, while US 10-year yields edged down 1.4 bps to 4.48%. Gold surged $46 to $4478, and Bitcoin fell $1500 to $63,400. The Nasdaq slipped marginally despite Broadcom’s decline, reflecting broader market resilience.