US stock futures held steady on Thursday after the S&P 500 and Nasdaq Composite closed at fresh record highs in the previous session, buoyed by hopes that the US and Iran were moving closer to an agreement to end the war. Reports suggested the two sides were nearing a one-page, 14-point memorandum of understanding to end the war and potentially reopen the Strait of Hormuz, while establishing a framework for more detailed nuclear talks. In regular trading on Wednesday, the S&P 500 and Nasdaq Composite jumped 1.46% and 2.02%, respectively, while the Dow gained 1.24%. Nine of the 11 major S&P sectors finished in positive territory, led by gains in industrials, technology, and communication services. Strong corporate earnings continued to underpin market sentiment, particularly among AI-related companies that remained at the forefront of the rally. Investors are now awaiting more earnings reports on Thursday, including results from McDonald’s, Gilead Sciences, and Airbnb, among others.

The Dow Jones Index rose 667 points or 1.35 percent on Wednesday to close at 49965 points. Leading the gains are Walt Disney (7.59%), Nvidia (5.93%) and Honeywell International (3.77%).

The Dow Jones Index is gaining 577 points or 1.17 percent on Wednesday. Leading the gains are Walt Disney (8.09%), Nvidia (3.97%) and Sherwin-Williams (3.28%).