FX.co ★ US Stocks Swing Higher to New Records

US stocks fluctuated after reports that the US and Iran had reached an agreement to de-escalate their conflict. The S&P 500 and Nasdaq 100 briefly rose about 0.5% to fresh record highs, while the Dow Jones Industrial Average hovered near unchanged. According to reports, Washington and Tehran agreed to a 60-day memorandum extending the ceasefire and gradually restoring energy exports from the Persian Gulf. Bond yields eased as energy prices pulled back from their recent rebound, even as incoming data supported a more hawkish Federal Reserve stance. Weekly jobless claims and consumer spending remained solid, while PCE inflation climbed to its highest level in three years. Shares of AI-focused software and infrastructure companies outperformed, with Microsoft, Oracle, and Palantir advancing roughly 3%–4%. In contrast, financial stocks lost momentum, with Visa and BlackRock each declining about 2%. Snowflake jumped 30% on a strong outlook, though the optimism did not carry over to the broader software sector. Salesforce slipped 2% following its earnings release.