Dow Back at Records as Iran Deal Hopes Crush Oil

Wall Street climbed to fresh highs Thursday as hopes for a US–Iran peace deal drove a sharp pull-back in oil prices and lifted sentiment across global markets. The Dow Jones Industrial Average closed at an all-time high of 50,285.66 — its first record since early February — while the S&P 500 added 0.2% to 7,446.05 and the Nasdaq Composite edged up 0.1% to 26,293.10. Reports of a near-finalised peace draft sent WTI crude to a two-week low near $96, even as conflicting signals over Iran’s uranium stockpile and proposed Hormuz tolls kept negotiations unresolved heading into the weekend. The ASX is expected to open higher on Friday, tracking overnight gains.