Stocks Hit Record Highs on US-Iran Talk Optimism: Markets Wrap

Hopes that the US and Iran will be back to the negotiating table lifted stocks to all-time highs, with the market also rising after a blowout forecast from Intel Corp. and the closing of a probe into Federal Reserve Chair Jerome Powell.

A nearly 1% gain in the S&P 500 on Friday drove the index to its longest weekly advance since 2024. President Donald Trump will send two envoys to Pakistan with the intention of talking with Iranian officials. US crude dropped to around $94. Treasury yields fell as the Justice Department’s decision on Powell potentially cleared a path to Kevin Warsh’s confirmation as the next Fed leader, with traders boosting bets on interest-rate cuts.