Stock Market Surges on Tech Rally and Ceasefire Deal, Inflation Data Offers Relief The S&P 500 and Nasdaq Composite closed at record highs on Thursday, driven by a surge in tech stocks and optimism over a reported agreement between U.S. and Iranian negotiators to extend the ceasefire. The broader index gained 0.58% to 7,563.63, while the Nasdaq Composite rose 0.91% to 26,917.47. Both indices also hit intraday all-time highs, with the Dow Jones Industrial Average climbing 0.05% to 50,668.97. The rally was fueled by strong earnings guidance from tech firms and a potential breakthrough in Middle East diplomacy. Tech stocks led the charge, with Snowflake’s shares surging 36.5% to their highest level ever after the cloud-based data platform provider beat earnings expectations and outlined a $6 billion investment plan with Amazon Web Services over five years. The company’s upbeat outlook for its fiscal second quarter reignited investor enthusiasm for AI-driven technologies. This optimism spilled into other enterprise software stocks, with the iShares Expanded Tech-Software Sector ETF (IGV) rising 2.8%. Memory stocks also gained traction, as Sandisk climbed 3.3%, while chipmakers Qualcomm and Advanced Micro Devices jumped 4.2% and 4.6%, respectively. The market’s positive momentum was further bolstered by news of a potential 60-day memorandum of understanding (MOU) between U.S. and Iranian negotiators to extend the ceasefire and initiate talks on Iran’s nuclear program. The agreement, reported by Axios and citing U.S. officials and a regional source, remains pending final approval from President Donald Trump.#nasdaq_composite #sp_500 #amazon_web_services #snowflake #us_iranian_ceasefire
