SP500 and NASDAQ set new All Time Highs... even in wartime. [View all]

The S&P 500 and Nasdaq Composite rose to new all-time highs on Wednesday, building on the week’s strong gains as investors remained hopeful about the Iran war potentially ending soon.

The broad market index gained 0.80%, ending at 7,022.95. The Nasdaq Composite advanced 1.59% to 24,016.02, while the Dow Jones Industrial Average shed 72.27 points, or 0.15%, to close at 48,463.72. Both the Nasdaq and the S&P 500 closed at records, with the tech-heavy index posting an 11th day win streak and the broad market benchmark notching its 10th positive session out of 11.

Stocks have been riding high this week on the possibility that a peace deal between the U.S. and Iran could materialize. The S&P 500, which fully recovered from its Iran war losses on Monday, has risen 3% this week. The Nasdaq and Dow, meanwhile, have added nearly 5% and more than 1% week to date.