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The Dow Jones Industrial Average reaches a record high as investors weigh corporate earnings and a potential U.S.-Iran deal

The Dow Jones Industrial Average reached a record high on Thursday, maintaining a steady performance as investors processed a series of corporate earnings reports. While the blue-chip index extended its winning streak, the S&P 500 remained relatively flat and the Nasdaq Composite saw a slight decline. Market participants are closely monitoring the financial results of various companies, including SpaceX, which faces a significant test as a lockup period expires, potentially releasing over 900 million shares into the market. Geopolitical tensions also influence market sentiment, with gold prices reaching multi-week highs amid uncertainty. Oil prices have steadled near $80 per barrel following reports that Iran and Oman have reached an agreement to manage ship traffic through the Strait of Hormuz. This development follows previous signals from President Trump that a deal is in the making. Additionally, labor market data released on Thursday showed July layoffs at a two-year low, while weekly jobless claims remained relatively flat, setting the stage for the upcoming July employment report.

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