Wall Street Closes Higher on Middle East Peace Hopes
The Dow Jones Industrial Average reached a record high as stocks recovered from morning losses following reports of progress in U.S.-Iran diplomatic talks. While Walmart shares fell on a weak profit forecast, technology stocks gained support from federal funding for quantum computing ventures.
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United States equity indexes rose as much as 0.55% on May 21 following reports of progress in diplomatic talks with Iran. The Dow Jones Industrial Average gained 276.31 points to a record 50,285.66, while the S&P 500 and Nasdaq climbed less than 0.2%. Investors are shifting focus from a completed earnings season back to geopolitical risks and energy price volatility.
