S&P 500, Nasdaq Nab Record Closes as Geopolitical Fears Fade

Investors set geopolitical fears aside on Wednesday, with the S&P 500 and Nasdaq securing record closes as the tech-heavy benchmark also marked its 11th-straight gain -- its longest win streak since November 2021. The possibility of more peace talks between the U.S. and Iran drove today's optimism, with the White House indicating another round of negotiations is under consideration.

The Dow finished well below breakeven, despite Big tech continuing to shine, with Broadcom (AVGO) standing out amid its expanded partnership with Meta Platforms (META). Elsewhere, the Cboe Volatility Index (VIX) marked a sixth-straight loss.

• Bulls piled onto this bank stock after earnings.
• Allbirds' unexpected pivot into the AI sector.
• Plus, how high oil prices impact stocks; behind GTLB's surge; and trading stocks rally after SEC change.

5 Things to Know Today

1. Tesla (TSLA) shares charged higher after the company rolled out software updates for its vehicles, with CEO Elon Musk also touting AI5 chip progress. (CNBC)
2. The International Monetary Fund (IMF) warned a long Middle East conflict could bring global growth to rates seen only during deep recessions. (The Wall Street Journal)
3. How stocks tend to behave when oil prices are above $100.
4. GitLab stock rallied on an expanded partnership with Alphabet.
5. SEC restriction change boosted Robinhood and Webull shares.

Oil Prices Flat Amid War Resolution Optimism

Oil prices settled mostly flat on Wednesday, as investors continued to hope for U.S.-Iran peace talks after President Donald Trump noted the war is "very close to over." May-dated West Texas Intermediate (WTI) finished at $91.29 per barrel.

Gold prices inched lower as traders continued to monitor geopolitical developments and weighed the impact the conflict may have on gold. April-dated gold shed 0.6% to finish at $4,820.50 an ounce.