U.S. stocks retreat from all-time highs as investors await U.S.-Iran peace deal:
Wall Street's major averages pulled back on Thursday, after the S&P 500 (SP500) and the Nasdaq (COMP:IND) had reached new records on hopes that the U.S.-Iran war could be over soon.
The benchmark S&P 500 (SP500) was last -0.2%, while the heavy-tech Nasdaq Composite (COMP:IND) was -0.4%, and the blue-chip Dow (DJI) was -0.2%.
Over in the bond market, the benchmark 10-year Treasury yield (US10Y) was unchanged at 4.27%, while the 2-year Treasury yield (US2Y) rose 1 basis point to 3.78%.
Crude oil futures (CL1:COM) were slightly higher at $93, while Brent (CO1:COM) was at $98 per barrel.
Multiple media reports said President Donald Trump indicated the “war is close to over,” fueling optimism that easing geopolitical tensions could support risk appetite heading into the session. Trump also said that talks between Israel and Lebanon will take place on Thursday.
The U.S. and Iran are expected to return to Pakistan next week for a second round of peace talks, according to two senior Pakistani officials involved in finalizing decisions with both the U.S. and Iranian teams, reports said.
On the economic front, the Philadelphia Fed Manufacturing Index unexpectedly rose in April. The initial jobless claims dipped slightly more than expected in the past week.
Also, industrial production decreased by 0.5% MoM in March, against the +0.1% consensus, according to the Federal Reserve.
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