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S&P 500 and Nasdaq futures traded near all-time highs on Thursday.
U.S. and Iran are nearing a temporary agreement to reopen the Strait of Hormuz.
KEY POINTS
- Oil prices have dropped below $100 a barrel on expectations of a U.S.-Iran peace deal.
- Traders now expect the Federal Reserve to hold rates steady for the rest of 2024.
- Arm Holdings shares fell 8.8% due to concerns over AI chip supply despite strong earnings.
- Whirlpool suspended its dividend and missed first-quarter sales estimates, causing shares to slump 17.8%.
COMPANIES
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