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The S&P 500 and the Nasdaq rose on Wednesday as investors closely tracked diplomatic efforts in the Middle East. Optimism grew following reports that discussions were ongoing to resolve the conflict involving the United States, Israel, and Iran.

The marpreciousket was further supported by a wave of strong first quarter earnings from major blue-chip corporations. These results reassured investors that the regional conflict has yet to significantly disrupt corporate profits or long-term investment strategies.

As of 10:45 a.m. Eastern Time, the S&P 500 rose 0.3% and the Nasdaq Composite was 0.8% higher. The Dow Jones Industrial Average fell 0.3%.

At the open, the Dow Jones Industrial Average rose 13.2 points, or 0.03%. The S&P 500 rose 10.8 points, or 0.15%, while the Nasdaq Composite rose 49.0 points, or 0.21%.

Regarding diplomatic progress, AFP quoted a senior US official stating that while the Trump administration has not formally agreed to a ceasefire extension, there is "continued engagement" between Washington and Tehran to secure a resolution.

Following these geopolitical developments, energy markets saw a decline in prices on Wednesday. Brent North Sea Crude remained flat at $94.76 per barrel, while West Texas Intermediate (WTI) fell by 0.2% to $91.07 per barrel.

"We've placed in some better sentiment around the potential for an end to this war," said Art Hogan of B. Riley Wealth Management.

"But you run out of gas on that a bit when you move as high as we have over the course of the last 10 days," Hogan added.

Bank of America stock rose 1.6% after the lender reported17% rise in profit at $8.6 billion for the first three months of the year.

Morgan Stanley shares jumped 5.4% after the investment bank delivered a better-than-expected quarter results.

Nike stock surged 2.6% after CEO Elliott Hill and Tim Cook — a Nike director and the Apple CEO — disclosed that they purchased a combined 48,000 shares of the athletic shoe maker at a cost of about $1 million each.

Among other gainers, shBullion Market

Gold prices gained on Tuesday as the US dollar weakened, while hopes of a resumption in US-Iran talks also supported prices.

By 1:34 p.m. ET (1734 GMT), spot gold was up 2% at $4,831.78 per ounce. US gold futures added 1.7% at $4,850.10.

Among other metals, spot silver rose 5.2% to $79.48 per ounce, platinum gained 1.3% to $2,096.91, while palladium rose 0.7% to $1,585.21.ares of ServiceNow climbed 5.9%, Oracle rose 4.5% and Ares Management gained 4.7%.

ASML, the Dutch company fell 4.1% after its revenue forecast fell short of analysts' expectations.

Gold prices gained on Tuesday as the US dollar weakened, while hopes of a resumption in US-Iran talks also supported prices.

By 1:34 p.m. ET (1734 GMT), spot gold was up 2% at $4,831.78 per ounce. US gold futures added 1.7% at $4,850.10.

Among other metals, spot silver rose 5.2% to $79.48 per ounce, platinum gained 1.3% to $2,096.91, while palladium rose 0.7% to $1,585.21.With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing.

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