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US stocks closed on Friday, April 24, 2026, with the S&P 500 and Nasdaq hitting record intraday highs as reports said the United States and Iran are set to resume peace talks in Islamabad. Crude oil prices edged lower as the stalemate in the Hormuz Strait persisted.
At the close, the S&P 500 rose 0.8% to 7,165.08 and the Nasdaq climbed 1.63% to 24,863.60. Both indices posted intraday record highs. The Dow Jones also gained, up 79.61 points (about 0.16%) to 49,230.71.
Pakistan government sources told Reuters that Iranian Foreign Minister Abbas Araqchi would travel to Islamabad on Friday to restart talks with the United States, but would not meet American officials in person. White House press secretary Karoline Leavitt said special envoy Steve Witkoff and Jared Kushner would travel to Pakistan on Saturday for direct talks with Iranian officials, adding that Iran requested the talks and the president sent the two officials.
Separately, Trump announced on Thursday that Israel and Lebanon agreed to extend their peace talks for three more weeks.
The conflict in the Middle East has escalated into a naval standoff in the Hormuz Strait, with both the US and Iran blocking the strait and seizing vessels. A Reuters-quoted source said Iran’s forces seized two container ships near Hormuz. Reuters data indicated Hormuz traffic remained nearly at a standstill, with just five ships passing in the previous 24 hours, including an Iranian oil tanker.
Trump also posted on Truth Social that he ordered the US Navy to shoot down any vessels mining the Hormuz Strait. Earlier in the week, the United States seized an Iranian-flagged vessel.
Robert Conzo, CEO of The Wealth Alliance, said Wall Street traders are largely setting the conflict aside for now, arguing that Middle East headlines can still move markets even as equities reach record levels. In comments to CNBC, Conzo pointed to optimism that the war could end soon, the historical pattern that oil-supply shocks tend to be temporary, and a strong start to the Q1 2025 earnings season supporting sentiment.
Conzo said investors expect US economic fundamentals to reassert themselves.
Friday’s rally was supported by a 23.6% surge in Intel shares, the largest for the stock since October 1987, after better-than-expected Q1 2026 results and upbeat guidance for Q2.
For the week, the S&P 500 rose 0.6% and the Nasdaq gained 1.5%, while the Dow fell 0.4%.
On energy markets, Brent crude rose 0.26 to 105.33 per barrel, while WTI fell 1.45 to 94.40 per barrel. Earlier in the session, prices had risen more than 2% on renewed peace-talk news before giving back gains. Brent was up roughly 16% and WTI about 13% for the week.
In a Reuters interview on Friday, Trump said Iran plans to present a proposal to meet Washington’s demands: “They will come up with a proposal, and we will see.”
Oil analyst Tamás Varga of PVM Oil cautioned that traders had reduced long positions ahead of what could be a volatile weekend and would reset positions Sunday night depending on developments.
Jim Ritterbusch of Ritterbusch & Associates said an indefinite ceasefire between the US and Iran could still mean the conflict continues, supporting higher oil prices—particularly Brent and diesel.
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