The S&P 500 index reached a new all-time high on Thursday, with reports of a potential U.S.-Iran agreement fueling optimistic expectations that the conflict may be nearing an end. The S&P 500 closed up 0.6%, marking its sixth consecutive day of gains, led by healthcare and technology stocks. The tech-heavy Nasdaq 100 index rose 0.8%, while the Dow Jones Industrial Average increased by less than 0.1%. All three major indices set new record highs. U.S. stocks opened lower but reversed course after a report from Axios indicated that Iran and the United States had reached an interim agreement to extend a ceasefire and work toward a final deal to end the war. The Axios report noted that U.S. President Donald Trump still needed to approve the terms of the agreement. Following the news, oil prices gave up earlier gains, and U.S. Treasury yields declined. Adam Crisafulli, founder of Vital Knowledge, commented, "U.S. stocks experienced some early-session volatility but found buying support later, bolstered by solid earnings, easing inflation, and the possibility of a U.S.-Iran agreement." Investors expressed optimism over signs of progress in U.S.-Iran negotiations while continuing to favor beneficiaries of the artificial intelligence infrastructure boom. The S&P 500 is on track for its ninth consecutive weekly gain, a streak that has occurred only four times since 1985. Data released on Thursday showed that U.S. consumer spending, adjusted for inflation, rose 0.1% in April, meeting expectations. The April PCE inflation data, however, came in below forecasts. Meanwhile, the number of Americans filing for unemployment benefits for the first time rose slightly last week, indicating continued stability in the labor market. Adam Hetts of Janus Henderson Investors noted, "Combined with robust economic data so far in the second quarter, these indicators suggest that the U.S. economy is demonstrating resilience in the face of ongoing geopolitical tensions and inflationary pressures." Several Federal Reserve officials expressed concerns about inflation. The President of the Chicago Fed suggested that expectations of rising productivity could fuel inflation, while the President of the Minneapolis Fed stated that inflation remains a primary concern for the central bank. At the close, the S&P 500 was up 0.6% at 7,563.63 points. The Dow Jones Industrial Average rose 0.1% to 50,668.97 points. The Nasdaq Composite Index gained 0.9% to 26,917.47 points. The Nasdaq 100 Index advanced 0.8% to 30,223.89 points. The Russell 2000 Index increased 0.6% to 2,936.57 points.