NEW YORK, New York - U.S. stock markets surged across the board on Tuesday, with the technology-heavy Nasdaq Composite outpacing its peers in a powerful rally that lifted all three major indexes to fresh gains, according to closing quotes.

Driving stocks was an announcement from the White House that a memorandum of agreement between the U.S. and Iran on ending the war was being circulated.

The Standard and Poor's 500 hit a new record high, jumping 136.00 points, or 1.79 percent, to close at 7,736.50. The broad-market index traded between a session low of 7,629.10 and a high of 7,758.21, continuing its steady climb from its 52-week trough of 6,289.37. Trading volume on the index reached 3.526 billion shares.

The Dow Jones Industrial Average also posted a robust advance, soaring 907.53 points, or 1.71 percent, to finish the day at 54,085.94. The blue-chip index moved within a range of 53,641.21 to 54,272.60, well above its yearly low of 43,799.20, with 559.153 million shares changing hands.

Leading the charge higher was the NASDAQ Composite, which outperformed both the S&P and the Dow with a stellar gain of 671.10 points, or 2.59 percent, closing at 26,584.99. The tech-heavy index saw heavy trading volume of 7.348 billion shares as investors piled into growth and technology names.

U.S. Dollar Mixed Tuesday as Greenback Gains on Yen and Loonie but Slips Against Euro, Pound, Franc and Aussie

The U.S. dollar ended Tuesday's trading session with a divided performance against major world currencies, advancing against the Japanese yen and the Canadian dollar while losing ground against the euro, British pound, Swiss franc, and Australian dollar, according to the latest foreign exchange quotes.

The dollar strengthened against the yen, with the USD-JPY pair rising to 157.79, marking a gain of 0.39 percent for the greenback. The U.S. currency also moved higher against its northern neighbor, as the USD-CAD pair climbed to 1.4065, an increase of 0.14 percent for the dollar against the Canadian loonie.

However, the dollar surrendered territory against the euro, with the EUR-USD pair advancing to 1.1531, representing a 0.19 percent gain for the common currency against the greenback. The British pound also posted gains versus the dollar, as GBP-USD rose to 1.3451, up 0.13 percent for the pound.

The Australian dollar had the strongest session among the major currencies tracked, with the AUD-USD pair jumping to 0.7048, a solid increase of 0.69 percent for the Aussie against its U.S. counterpart.

In Swiss trade, the dollar weakened slightly, with USD-CHF slipping to 0.8093, a decline of 0.11 percent for the greenback against the Swiss franc.

Traders cited a mix of shifting interest rate expectations and risk appetite as driving the divergent moves across the currency market, with the dollar finding support against the safe-haven yen and commodity-linked loonie while facing selling pressure against European and antipodean currencies.

Global Markets Close Mixed Tuesday as European Bourses Rally, Asian Indexes Drift Lower

World stock markets finished Tuesday's trading session with a distinctly transatlantic split, as strong gains in Europe were offset by losses in Asia and a solid showing in the United States. Investors weighed fresh talks on the U.S.-Iran war, corporate earnings and shifting expectations for central bank policy, leading to a cautious but positive tilt for most major European benchmarks.

In London, the FTSE 100 advanced, climbing 21.68 points, or 0.20 percent, to settle at 10,879.38. The index traded between a low of 10,855.20 and a high of 10,932.54, continuing its recovery from its 52-week trough of 9,079.90.

European indexes posted even stronger performances. Germany's DAX P jumped 201.04 points, a gain of 0.77 percent, closing the day at 26,202.35. The DAX touched an intraday peak of 26,266.50, comfortably above its yearly low of 21,863.81.

In France on Tuesday, the CAC 40 also finished in positive territory, adding 52.81 points, or 0.61 percent, to end at 8,666.63 after trading between 8,601.92 and 8,669.69.

The broader region saw the EURO STOXX 50 I rise by 60.20 points, a robust 0.94 percent, to close at 6,486.70, while the Euronext 100 Index gained 18.70 points, or 0.96 percent, finishing at 1,957.93.

In Belgium, the BEL 20 also participated in the rally, moving up 39.86 points, or 0.70 percent, to end at 5,707.14.

Canadian stocks also joined the rally. The S&P/TSX Composite index advanced 575.45 points, or 1.63 percent, to settle at 35,801.59, with trading volume of 363.345 million shares.

Meanwhile, Asian markets painted a more subdued picture. Hong Kong's HANG SENG INDEX slipped 156.48 points, a loss of 0.60 percent, closing at 25,852.92. The index moved within a session range of 25,768.04 to 26,187.57, remaining well below its 52-week high of 28,056.10.

In China, the SSE Composite Index added 12.62 points, a modest 0.33 percent, to close at 3,822.28 on volume of 2.493 billion shares. Japan's Nikkei 225 also eked out a gain, finishing higher by 202.63 points, or 0.32 percent, at 63,957.53.

In Singapore, the STI Index was virtually flat, edging down by just 0.03 points, or a fractional 0.00 percent, to 5,612.25.

India's S&P BSE SENSEX declined by 210.08 points, or 0.27 percent, finishing at 78,428.95 after touching a high of 79,143.15.

In contrast, Australian benchmarks saw solid buying interest. The S&P/ASX 200 surged 126.50 points, or 1.40 percent, to close at 9,145.80, while the broader ALL ORDINARIES added 133.50 points, up 1.45 percent, ending at 9,311.90. In New Zealand, the S&P/NZX 50 INDEX GROSS climbed 128.53 points, or 0.93 percent, settling at 13,903.46.

Elsewhere in Asia, Indonesia's IDX COMPOSITE gained 85.12 points, or 1.37 percent, to 6,319.61, while Malaysia's FTSE Bursa Malaysia KLCI rose 6.93 points, a 0.40 percent increase, to 1,732.66.

In South Korea, the KOSPI Composite Index outperformed the region, rallying 101.50 points, or 1.62 percent, to finish at 6,358.95, though it remains far below its peak of 9,385.59. Taiwan's TWSE Capitalization Weighted Stock Index barely moved Tuesday, slipping 25.75 points, or 0.06 percent.

Middle Eastern and African markets ended the day with gains. In Israel, the TA-125 rose 18.22 points, or 0.45 percent, to 4,050.62, and Egypt's EGX 30 Price Return Index advanced 407.40 points, or 0.75 percent, to close at 54,501.70, supported by turnover of 440.887 million shares.

In South Africa, the Top 40 USD Net TRI Index saw the day's largest percentage jump, soaring 155.24 points, or 2.28 percent, to end at 6,964.69.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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