US Stocks Set Record High on Hopes for End to War, AMD Forecast

US stocks closed at a record high for the second day in a row, lifted by optimism the Iran war is drawing to a close and by bullish results from chipmaker Advanced Micro Devices Inc.

AMD surged 19%, the most since October, after a flood of AI data-center spending buoyed its sales forecast. Oil slid after Axios reported that the US and Iran were nearing an understanding to end the war.