New York, June 26, 2025 — U.S. stock markets climbed on Thursday, with major indexes approaching historic peaks as investors absorbed fresh economic data and Federal Reserve commentary on potential interest rate cuts.

The S&P 500 rose 0.8%, inching closer to its record closing high by just three points at 6,041.

The Nasdaq Composite gained 1.0%, reaching 20,168, just six points shy of its record close.

The Dow Jones Industrial Average also climbed 0.9% (about 400 points), though it remains roughly 4% below its all-time high.

Market Drivers

The rally followed several days of caution, driven by easing geopolitical tensions amid a cease-fire between Iran and Israel . Investors digested U.S. macroeconomic data—including initial jobless claims, trade balances, durable goods orders, and GDP figures—while Fed officials reiterated that further economic evidence is needed before easing interest rates.

Tech Stocks Steer Rally

Nvidia (NVDA) surged another 0.5%, reclaiming its top spot as the world’s most valuable company after Wednesday’s 4% jump.

Broadcom, Amazon, Alphabet, Meta, and Microsoft all climbed, with Microsoft hitting a new high.

Apple and Tesla slipped slightly.

Palantir and Marvell Technology posted gains, while Micron paused despite upbeat quarterly results.

Commodities & Currencies

Bitcoin traded near $107,000, down from a morning peak following Middle East tensions.

West Texas Intermediate crude oil rose 0.5% to $65.20, retreating from earlier highs amid stabilizing geopolitical developments.

Gold futures stayed around $3,340/oz, up from earlier in the week.

The 10-year Treasury yield eased to 4.25%, while the US Dollar Index dropped 0.4% to 97.33, marking a three-year low.

Summary:

Major U.S. stock indexes hover near record highs

Tech-giants, especially Nvidia, led the charge

Investors await more Fed data to gauge rate cut timelines

Commodities and currencies show mixed yet stable trends