The S&P 500 rose 0.8% to cross 7015 points on Wendesday, a fresh record level while the Nasdaq gained more than 1% to trade at January-highs, led by gains in the tech sector. Broadcom jumped more than 3% and Meta added almost 2% after the latter said it agreed to deploy 1 gigawatt of custom AI chips using Broadcom technology. Other megacaps were mostly higher, including Apple (2.6%), Microsoft (5%), Tesla (7%) and Nvidia (0.5%). Also, investor sentiment remained upbeat, with hopes that the conflict in Iran could soon de-escalate after President Trump said the war he initiated alongside Israel was nearing its end, as Pakistan’s army chief arrived in Tehran to help secure an extension of the ceasefire, which is set to expire on Tuesday. At the same time, attention is turning to corporate earnings. Bank of America rose as much as 2.5% after posting higher Q1 profits and Morgan Stanley soared more than 5% after posting record revenue.