Nasdaq records close as Iran hopes cap crude, lift tech

Wall Street’s main gauges finished in mixed territory, yet the tech-focused Nasdaq benchmarks once again led the way. The Nasdaq Composite and the Nasdaq 100 both ended at all-time closing highs, while the S&P 500 closed about flat and the Dow finished in negative territory.

Expectations of a possible easing in the conflict with Iran propped up sentiment and helped nudge oil prices a bit lower. President Trump voiced confidence that negotiators Steve Witkoff and Jared Kushner could find common ground, with the potential for crude to resume moving through the Strait of Hormuz.

Still, the outlook for diplomacy remains far from settled. Reports indicated that the U.S.-Iran meeting was set ahead of time and centered on restarting negotiations and the shipping lane. Most sticking points were unresolved, though a further session could take place in the near term. Qatar’s prime minister also took part in the talks.

According to Iranian state media, Tehran agreed to Witkoff’s request for the meeting because of its demands concerning the waterway’s reopening. Stringent requirements were said to have been put to the U.S. side.

In short, there may be some forward movement toward continued dialogue, but a settlement has yet to materialize.

U.S. equity closing figures

• Dow Industrial Average: Down 185.00 points, or -0.36%, at 51,869.20
• S&P 500: Up 0.11 points, or 0.00%, at 7,764.80
• Nasdaq Composite: Up 122.18 points, or +0.45%, at a record 27,244.28
• Russell 2000: Up 14.56 points, or +0.51%, at 2,889.92
• Nasdaq 100: Up 250.04 points, or +0.82%, at a record 30,732.40

The Nasdaq 100 was the top performer among the major indices, up 0.82%. The Russell 2000 also gained ground solidly, indicating that buying was not confined to the biggest tech names. On the other hand, the Dow’s drop and the essentially unchanged S&P 500 highlighted how varied the overall session turned out to be.

Treasury yields slip

U.S. government debt yields eased slightly across maturities:

• 2-year yield: 4.7427%, off 1.0 basis point
• 5-year yield: 4.8273%, off 0.6 basis point
• 10-year yield: 4.9552%, off 0.8 basis point
• 30-year yield: 5.2953%, off 0.1 basis point

The moves were modest, but they helped set a more supportive tone for growth shares. Lower yields tend to ease some of the pressure on technology valuations, given that a larger portion of those companies’ profits is expected further out. That backdrop contributed to the Nasdaq benchmarks hitting fresh closing records.

Oil slips on cautious diplomatic hopes

WTI crude was near $94.59 as the trading day wound down, off $0.57, or -0.6%, after moving between $92.40 and $97.42.

The drop came as some market participants bet that talks could eventually help normalize oil shipments through the Strait of Hormuz. That said, the wide range suggests that investors are still reacting sharply to each geopolitical development.

If a firm deal is reached, it would likely strip out a good share of the risk premium in prices. Should negotiations collapse or fighting pick back up, however, upward pressure on crude could quickly return.

What the session signals for traders

Monday’s moves offer a reminder that markets tend to price in expectations ahead of confirmed results.

There was no broad U.S.-Iran accord, but the signs of direct contact and the chance of future meetings were enough to give stocks a lift and nudge oil down a bit.

That is not to say a settlement is guaranteed. A headline can spark a reaction, but follow-through is what confirms a trend. For equities, the key question is whether the Nasdaq indices can hold above their previous record closes. For oil, traders will be watching whether sellers can keep prices beneath recent ceiling as talks progress.

Closing at a record is a positive sign, but sustaining the breakout level is what gives buyers more control.