Market Highlights

US stocks held onto record highs as traders digested a flurryof headlines on the conflict in the Middle East, brushing aside warnings that the US-Iran war would continue to linger for months. The S&P 500 edged up 0.3%, notching another all-time high after the benchmark closed above the 7,000 mark for the firsttime on Wednesday. President Donald Trump said prospects for a deal with Iran are “looking very good.” He said he believed Iran had agreed to terms it has long resisted, including giving up ambitions for a nuclear weapon. Tehran has not publicly confirmed it’s made those concessions A record-breaking rally in global equities stalled in Asia as investors trimmed positions ahead of the weekend while awaiting progress on extending the US-Iran ceasefire.