USA: S&P and Nasdaq Reach New Highs.

The S&P 500 gained 0.7% on Tuesday and the Nasdaq climbed more than 1% to fresh record highs while the Dow Jones reversed earlier gains and was down about 80 points as investors returned from the long weekend with continued focus on developments in the Middle East. Markets remained cautiously optimistic that the US and Iran could still reach an agreement, with traders viewing the two sides as closer than ever to a deal despite mixed signals and further US strikes. Technology, industrials, and materials led the market higher, while energy stocks posted the steepest declines. Among individual movers, Micron Technology surged more than 16%, pushing its market capitalization above $1 trillion for the first time after UBS raised its price target and said the stock could more than double. Alphabet rose 1%, Broadcom advanced 3%, and Tesla gained 1.8%. On the downside, Nvidia slipped 0.5%, while Microsoft and Amazon fell 0.8% and 0.7%, respectively. Exxon Mobil also declined 1.9%.