S&P 500 Breaks 7,000 for First Time; Nasdaq Surges 1.59%

The S&P 500 rose 0.80% to close at 7,022.95, marking the first time the index crossed 7,000 at close. The Nasdaq climbed 1.59% to 24,016.02, while the Dow fell 72.27 points (0.15%). Expectations of an Iran peace deal and better-than-expected earnings from BofA and JPMorgan drove simultaneous rallies in AI and banking stocks.