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Stocks rose on Tuesday in New York. Traders felt good even after the peace talks between the U.S. and Iran did not go well. They still believe a deal is possible.
The S&P 500 indexgained 1.18% and closed at 6,967.38. It is now very close to its best level in a year. The Dow Jones Industrial Average gained 317.74 points, or 0.66%, closing at 48,535.99. The Nasdaq Composite rose 1.96%, ending at 23,639.08.
Technology companies helped boost the market. Oracle’s stock grew by 4.7%, adding to its big gain from the day before. Other companies like Nvidia and Palantir Technologies also performed well.
Despite worries about global issues, Wall Street showed strength. President Donald Trump said the other side wants to make a deal. The gains on Monday helped recover losses from the past weeks.
A new meeting between the U.S. and Iran is possible, but no date is set. Oil prices dropped, with West Texas Intermediate crude down 7.87% to $91.28 a barrel.