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US stocks edged up at the opening bell on Thursday, set to add to all-time highs as investors watched for Iran’s response to a US peace proposal and combed through labor updates and fresh earnings reports.
The Nasdaq Composite (^IXIC) rose 0.2%, while the S&P 500 (ES=F) steadied on the heels ofrecord-high closesfor the tech-exposed benchmarks.
The Dow Jones Industrial Average (^DJI) moved up 0.4%.
Iran is said to be evaluating a US proposal to end the near-10-week war, and it is expected to give its response as soon as Thursday,CNN reported.The signs of progress toward relieving the blocked Strait of Hormuz pushed Brent (BZ=F)oil futures below $100 a barrel, helping spur arally in gold(GC=F) as inflation worries eased.
Market sentiment also got a lift from this week’s steady march oftech earnings, indicating strength in the AI trade.
Shares in Arm (ARM) initially rose on the chip designer’supbeat revenue forecast,but sank in premarket trade on concerns about a lack of chip supply.
McDonald’s (MCD) first quarterearnings beat estimatesas people sought out value, pushing shares higher.
Papa John’s (PZZA) missed analyst estimates on the top and bottom line, while Shake Shack (SHAK) reported a net loss.
In abusy week for labor data, Thursday brought a Challenger report onlayoffs in April, which showed AI blamed as the tech sector got hit hardest.
A weekly reading on jobless claimscame in cooler than expected, setting the stage for the all-important monthly jobs report on Friday.
Apple (AAPL) notched its first intraday record high since December after closing at a record Thursday.
Similarly, the Roundhill Magnificent Seven ETF (MAGS) hit its first all-time intraday record since October.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | ▲ +0.34% |
| WTI Crude | $96.90/bbl | ▲ +0.21% |
| EN590 Diesel | $846/MT | ▲ +0.18% |
| Jet Fuel A-1 | $1090/MT | ▲ +0.55% |
| Mazut M100 | $450/MT | ▼ -0.15% |
| Bitumen 60/70 | $470/MT | ▲ +0.08% |
| Sulphur Gran 99.5% | $470/MT | ▼ -0.44% |
| Urea 46% Gran | $650/MT | ▲ +1.12% |
| NPK 16-16-16 | $460/MT | ▼ -0.28% |
| Nat Gas TTF | $15.42/MMBtu | ▲ +0.92% |
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