US sharemarkets rose on Thursday, with the S&P 500 and Nasdaq Composite closing at fresh record highs as optimism grew around a potential resolution to the Iran war. The S&P 500 gained 0.26% to 7,041.28, while the Nasdaq Composite advanced 0.36% to 24,102.70, marking its 12th consecutive day of gains, its longest winning streak since 2009. The Dow Jones Industrial Average added 115 points, or 0.24%, to 48,578.72.
The rally has been supported by continued strength this week, with the S&P 500 up 3.3%, the Nasdaq rising 5.2%, and the Dow advancing more than 1%. The S&P 500 has now erased all losses recorded since the start of the war and is trading at record levels, while the Nasdaq has pushed above the 24,000 mark for the first time.
Markets moved higher after Donald Trump confirmed discussions with leaders in Lebanon and Israel, noting that a 10-day ceasefire between the two countries is set to begin. Trump also indicated that a further round of talks between the United States and Iran could take place as early as next weekend, reinforcing expectations that a deal remains possible.
Earnings season remains in focus, with recent results continuing to shape sentiment. Upcoming reports from companies including Netflix, PepsiCo, TSMC and Alcoa are due, while recent updates from major US corporates have provided mixed signals.
Oil prices rose, highlighting ongoing uncertainty in energy markets despite improving sentiment in equities. Brent crude climbed as much as 5.1% to around US$99.74 a barrel, reflecting continued concerns around supply disruptions.
Australian Market Outlook
Australian shares are set to open lower, with S&P/ASX 200 futures down 11 points, or 0.1%, to 8,972, despite record highs on Wall Street.
Locally, attention will turn to New Zealand data, with inflation and retail spending figures due.
