Dow Closes At Record Highs On Iran Truce Optimism, While Nasdaq Snaps Four-Day Win Streak On Weak Chip Stocks — META, BA, AAL, DY, VRRM In Focus

• The S&P 500 was flat, and the Dow Jones rose 0.4%, while the Nasdaq 100 lost 0.1%.
• Oil prices eased amid positive statements from Iranian media, but the White House denied them. 
• Meta to sell artificial-intelligence chatbot subscriptions.

U.S. benchmark stock indices ended mixed on Wednesday as investors assessed mixed signals amid the ongoing U.S.-Iran war, while easing oil prices supported industrial shares and the Dow, and weakness in chip stocks led the Nasdaq to snap a four-day win streak. 

The S&P 500 ended flat, the Nasdaq 100 slipped 0.1%, and the Dow Jones jumped 0.4% to record highs. The Russell 2000, which tracks stocks with small market capitalization, was also flat. 

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ) ended Wednesday around 0.1% higher. The SPDR Dow Jones Industrial Average ETF Trust (DIA) gained 0.3%. 

The VanEck Semiconductor ETF (SMH) fell 0.8%. 

Meanwhile, retail sentiment on Stocktwits for SPY, QQQ and DIA was all in the “extremely bullish” territory with “extremely high” message volumes.  

US Market Drivers

U.S. crude oil fell 5.55% to settle at $88.68 a barrel, as per data from CNBC, after Iranian state media said the country is committed to restoring commercial traffic through the Strait of Hormuz to pre-war levels within one month, per Reuters.

However, the White House denied the Iranian state media report and stated it as a “complete fabrication.” President Donald Trump said he was “not satisfied”  with the negotiations with Iran, dampening expectations. 

“The situation surrounding Iran remains highly fluid as negotiations continue toward a more durable peace agreement,” said Adam Turnquist at LPL Financial in an interview with Bloomberg. 

“A meaningful reopening of the Strait of Hormuz will likely be necessary for oil prices to move sustainably lower.” 

Meanwhile, chipmakers including Qualcomm (QCOM) and Intel (INTC) cooled off on Wednesday. Technology and financial sectors led declines, while consumer discretionary shares eked out minor gains. 

Mega-cap tech stocks have seen a mild pullback recently, following their robust bull run over the past few weeks, as investors grow wary of sticky inflation and imminent rate hikes towards the end of the year. 

Trending Stocks To Watch 

Meta Platforms (META): Shares of Meta Platforms gained after a report said the company plans to launch paid consumer subscriptions for its Meta AI chatbot.

Boeing (BA): The airplane manufacturer’s CEO made a positive forecast for this year and beyond, as the US planemaker raises production on its workhorse 737 Max jet. 

American Airlines (AAL): The carrier said it continues to see strong travel demand, even as surging jet fuel prices drive up ticket prices. 

Dycom Industries  (DY): Shares of Dycom Industries (DY) surged on Wednesday after the company reported first-quarter results that beat analyst expectations and raised its outlook for fiscal 2027.

Verra Mobility (VRRM): Shares of Verra Mobility (VRRM) nosedived more than 71% on Wednesday, hitting a record low as multiple analysts cut price targets and downgraded the stock following Avis' termination of its agreement with the company.  

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