Finance

The S&P 500 healthcare index led broader market gains and reached a fresh record high during the session, powered by strong gains from major pharmaceutical and medical companies. Conversely, the technology sector served as the primary drag on equity markets, keeping the Nasdaq in flat-to-negative territory as investors reassessed the tech trade.

Global energy prices experienced a notable pullback, with Brent crude dropping back toward $106 to $109 per barrel. The downward pressure followed unverified reports that international mediators had offered a proposal to renew stalled diplomatic negotiations between the United States and Iran.

Strong quarterly performance reports from major industrial players provided a substantial tailwind for Wall Street. Shares of 3M jumped more than 5% after the manufacturer posted stronger-than-expected earnings and lifted its full-year profit outlook, while defense contractor Northrop Grumman also advanced significantly on robust results.