12:40 PM EDT, 05/06/2026 (MT Newswires) -- US equity indexes rose after midday Wednesday, with the S&P 500 and the Nasdaq Composite scaling new all-time peaks, amid growing expectations of a peace deal with Iran and as quarterly earnings lifted the technology landscape.

The Nasdaq traded 1.5% higher at 25,704.2 after touching a record 25,708.84 intraday. The S&P 500 was up 1.2% to 7,346.5 after hitting an all-time high of 7,348.35 earlier in the session. The Dow Jones Industrial Average advanced 1.2% to 49,892.6.

The White House is of the view that an agreement with Tehran -- a one-page memorandum of understanding to end the war and set a framework for more detailed nuclear negotiations -- is close, Axios reported, citing two US officials and two other sources briefed on the issue. Washington's MoU, if Iran accepts it, will lead to the gradual reopening of the Strait of Hormuz and lifting of the American blockade on Iranian ports, a person familiar with the matter told Bloomberg.

West Texas Intermediate crude oil futures sank 6.9% to $95.34, and Brent crude futures plunged 7.7% to $102.20.

In company news, Advanced Micro Devices (AMD) shares surged 17%, among the top gainers on the S&P 500 and the Nasdaq, after the chipmaker overnight posted stronger-than-expected fiscal Q1 results and issued an upbeat Q2 revenue outlook.