Nasdaq Hits New Record High as S&P 500 Ends Flat Amid Oil's Fifth Straight Drop

The Nasdaq Composite closed at a new record high, while the S&P 500 ended the trading day essentially flat as oil prices declined for a fifth straight session.

Crude oil continued its slide as traders weighed the latest developments in relations between the United States and Iran, a dynamic that has been a focal point for energy markets in recent sessions.

The divergence between the tech-heavy Nasdaq's record close and the broader S&P 500's flat performance reflected uneven movement across sectors, with strength in some areas offset by weakness elsewhere as investors digested falling oil prices alongside geopolitical developments.

Falling oil prices can have mixed effects on markets: they tend to ease cost pressures for consumers and many businesses, but can also weigh on energy company shares and raise questions about global demand.

Traders said they would continue watching for signals from Washington and Tehran in the days ahead, as any shift in the relationship between the two countries has the potential to move energy prices and, by extension, broader market sentiment.

Markets have shown resilience in recent weeks even as investors track a mix of geopolitical and economic signals, with technology shares in particular helping to lift major indexes to fresh highs.