S&P 500, Nasdaq Nab Record Closing Highs, WTI Falls on Hopes for Iran Peace Deal

GLOBAL MARKET - NEW YORK. The S&P 500 and the Nasdaq advanced on Tuesday, parting ways with their European counterparts, and falling West Texas Intermediate crude prices diverged from spiking Brent oil prices as investors weighed optimism over an imminent U.S.-Iran peace deal against risks the tenuous ceasefire could collapse.

Tech shares, lifted by surging chip stocks, put the Nasdaq out front, while the S&P 500's gains were more modest. The blue-chip Dow was in negative territory.