US stocks wipe out losses, end at record highs

US stock indexes closed higher on Thursday, with technology stocks regaining leadership on Wall Street, while Treasury yields fell after reports that negotiators from the US and Iran had reached a preliminary agreement to extend the ceasefire between the two countries.

The Dow Jones Industrial Average gained nearly 24 points to close at 50,668, its highest level on record.

The broader S&P 500 rose 0.6%, or 43 points, to 7,563, while the Nasdaq Composite advanced 0.9%, or 242 points, to end at 26,917. Both indexes closed at record highs.

Technology stocks rallied after stronger-than-expected results and upbeat guidance from Snowflake boosted confidence in AI-related investments. Snowflake shares jumped 36.45%, while AMD and Qualcomm rose 4.55% and 4.25%, respectively.

The pan-European STOXX 600 index declined 0.5%, or 3 points, to 625.

France's CAC 40 fell 0.25%, or 18 points, to 8,188, while Germany's DAX slipped 0.35%, or 104 points, to 25,092.

In Japan, the Nikkei 225 declined 0.45% to close at 64,693, while the broader Topix index fell 0.4% to 3,902.

In oil markets, Brent crude futures for August delivery rose 0.50%, or 45 cents, to $92.70 a barrel before extending gains to settle at $95.98.

WTI crude for July delivery gained 0.25%, or 22 cents, to $88.90 a barrel before settling at $92.52.

Gold futures for June delivery rose 1.15%, or $50.90, to $4,499.30 an ounce, before ending the session at $4,363.50.

Meanwhile, US Treasury yields retreated from their session highs after investors assessed economic data showing slower growth, weaker capital spending and easing inflation pressures.