So here's what happened in the markets on Thursday: stocks decided to keep climbing, oil got a bit jumpy about some geopolitical fine print, and everyone tried to figure out if peace is actually bullish or if it just makes other problems more noticeable.

U.S. equities pushed to fresh all-time highs by midday, with the S&P 500 topping 7,038. The optimism came as President Donald Trump announced that Israeli and Lebanese leaders have agreed to a 10-day ceasefire, which he called his potential tenth war resolved. That kind of news tends to put investors in a buying mood—even when there's another story bubbling that could complicate things.

The S&P 500 advanced to 7,038.57, up 0.2%, tagging a fresh all-time high and extending the index's remarkable rally off March lows. The Dow Jones Industrial Average was essentially flat on the session.

The Nasdaq 100 rallied 0.6% to 26,359, updating record highs and eyeing its 12th straight session of gains – the tech-heavy index's best run since 2009.

Meanwhile, oil prices charged higher. WTI crude surged 2.5% to $93.58 per barrel, while Brent jumped 3.8% to $98.52—approaching the psychologically significant $100 threshold. The reason? Reports that Tehran's parliament was advancing legislation to impose mandatory shipping tolls at the Strait of Hormuz. That was seen as potentially complicating any diplomatic breakthrough and kept energy markets on edge through midday.

Thursday's Performance In Major US Indices

According to market data:

• The Vanguard S&P 500 ETF (VOO) gained 0.2%.
• The SPDR Dow Jones Industrial Average ETF Trust (DIA) edged up 0.1%.
• The Invesco QQQ Trust (QQQ) climbed 0.6%.
• The iShares Russell 2000 ETF (IWM) added 0.1%.

Crude Lifts Energy Sector Gains

The Energy Select Sector SPDR Fund (XLE) led all S&P 500 sectors on Thursday, advancing 1.5%. Within energy, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) surged 1.8%.

The Technology Select Sector SPDR Fund (XLK) rose 1.2%, driven by strength in software names. The iShares Expanded Tech-Software Sector ETF (IGV) surged 2.2%, leading all industry groups.

Within Magnificent Seven stocks, Microsoft led the pack with a 2.1% gain, while Meta Platforms Inc. (META) rose 0.7%. Apple Inc. (AAPL) fell 0.9%, while Tesla Inc. (TSLA) slid 0.6%.

On the downside, the Health Care Select Sector SPDR Fund (XLV) fell 0.7%, the worst-performing sector, weighed down by Abbott Laboratories (ABT), which dropped 5.0% after issuing weak forward guidance despite in-line earnings.

Within financials, The Charles Schwab Corp. (SCHW) fell 5.0% despite beating earnings expectations. The broker also announced plans to offer direct Bitcoin and Ethereum trading.

PepsiCo Inc. (PEP) rose 2.5% after reporting better-than-expected earnings and revenue, while Bank of New York Mellon Corp. (BK) gained 1.9% on strong quarterly results. Netflix Inc. (NFLX) traded marginally lower ahead of its earnings release after the close.

Thursday's Russell 1000 Top Gainers

Thursday's Russell 1000 Top Losers