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US stocks were mixed after reports that the United States and Iran had reached an agreement to de‑escalate their conflict. The S&P 500 reversed earlier weakness to close at a fresh record high, the Dow finished little changed, and the Nasdaq pared losses to trade just below unchanged.

According to new reports, Washington and Tehran agreed to a 60‑day memorandum extending the ceasefire and outlining a phased resumption of energy exports from the Persian Gulf. Treasury yields declined as energy prices surrendered part of their recent rebound, even as incoming economic data continued to support a hawkish stance from the Federal Reserve. Weekly jobless claims and consumer spending remained solid, while core PCE inflation climbed to its highest level in three years.

In equity markets, AI software and infrastructure leaders rallied sharply, with Microsoft, Oracle, and Palantir each advancing about 3%–4%. By contrast, semiconductor stocks weakened, led by a 1% drop in Nvidia. Snowflake soared 30% on an upbeat outlook, though the strength did not translate to the broader software sector, where Salesforce slipped 2% following its earnings release.