[New York Stock Exchange] Closes Mixed Amid US-Iran Talks... Nasdaq Hits Record High for Second Straight Day

Oil Prices Fall for Five Consecutive Sessions

On the 22nd (local time), the three major indexes on the New York Stock Exchange closed mixed as investors kept a close eye on the negotiations between the United States and Iran. While international oil prices declined for a fifth consecutive trading day, strong performance from semiconductor stocks pushed the Nasdaq Composite Index to a new all-time high for the second consecutive day.

At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 51,863.69, down 185.14 points (0.36%) from the previous trading session. The large-cap-focused S&P 500 Index dipped by 0.06 points (0.00%) to finish at 7,764.64, while the tech-heavy Nasdaq Composite Index closed up 122.18 points (0.45%) at 27,244.27.

View of the New York Stock Exchange. New York, USA - Photo by Yoonju Hwang

On this day, the market diverged by index as participants closely watched the status of negotiations between the United States and Iran. U.S. President Donald Trump stated that U.S. and Iranian officials held talks for about three hours in New York, where the United Nations General Assembly was taking place, calling the meeting "very good and productive." He added that follow-up talks were scheduled to take place in the near future but did not disclose specific details about any agreements.

Previously, during his speech at the United Nations General Assembly, President Trump left open the possibility of military action, saying the United States must decide whether to pursue an agreement on Iran's nuclear issue or "annihilate" Iran. He also commented that Iran was waiting for the U.S. midterm election results and expressed his belief that an agreement would be reached immediately after the election.

International oil prices declined following news of the U.S.-Iran talks. On the New York Mercantile Exchange, West Texas Intermediate (WTI) for the U.S. closed down 1.2% from the previous day at $94.59 per barrel. November delivery Brent crude on the ICE Futures Exchange dropped 1.1% to settle at $99.25 per barrel. Both crude oil benchmarks have declined for five consecutive trading sessions.

Reports that Iran was prepared to reopen the Strait of Hormuz within seven days, contingent on the easing of U.S. military pressure and the lifting of the blockade of Iranian ports, also weighed on oil prices. In addition, news that Saudi Arabia may restart the east-west oil pipeline—which had suspended operations due to a drone attack—as early as this week eased concerns over supply. However, the reopening of the Strait of Hormuz has not yet been agreed upon.

U.S. Treasury yields rose slightly. The 10-year U.S. Treasury yield reached approximately 4.955% during the session. After the Federal Reserve increased its benchmark interest rate for the first time in over three years last week, there remained lingering concern in the market about further hikes and long-term rate increases.

Reiterated warnings about inflation from senior Federal Reserve officials also contributed to the cautious mood. Susan Collins, President of the Federal Reserve Bank of Boston, said she had supported last week’s rate increase and emphasized that a somewhat restrictive rate environment would help return inflation to target levels. Tom Barkin, President of the Federal Reserve Bank of Richmond, warned that it could take time for the recent inflation shock to subside.

Tom Garretson, senior portfolio strategist in fixed income at RBC Wealth Management, stated, "I believe the market has not fully priced in the effects of the rate hike cycle in this high-interest environment," adding, "the market remains complacent about the possibility of the 10-year yield surpassing 5% and the risk that the Fed could raise rates more than twice going forward."

By stock, SanDisk surged 6.82% following a positive investment opinion from Rosenblatt, helping to lift the Nasdaq index. Rosenblatt initiated its coverage of SanDisk, giving it a "Buy" rating and setting a target price of $2,400. Notable gains were also seen in Nvidia, up 0.66%, AMD, up 1.34%, Intel, up 1.71%, and Micron Technology, up 5.00%.

Meanwhile, the market is also closely monitoring the upcoming summit between President Trump and Chinese President Xi Jinping, which will be held this week in Washington, D.C. The two leaders are expected to discuss artificial intelligence (AI), tariffs, rare earth metals, and the Iran war, among other topics.

This content was produced with the assistance of AI translation services.