The Dow gained 211.81 points, or 0.74%, to end the day at 28,956.90. The S&P 500 advanced 0.67% to 3,274.70. The Nasdaq Composite jumped 0.81% to 9,203.43. Stocks got a lift as U.S.-Iran tensions eased, pushing the major averages to record highs.
The decreasing tensions between Iran and the U.S. allowed stocks to resume the bullish trajectory they've taken for the better part of a year. They also allowed investors to turn their attention to strong employment data. The Labor Department said Thursday weekly jobless claims fell by 9,000 to 214,000. Wall Street was also feeling optimistic about next week's signing of the "Phase One" U.S.-China trade deal. Barring another flare-up between Iran and the U.S., stocks could continue to rip higher into record territory.
Apple shares rose 2.12% to hit a fresh all-time high after data from the Chinese government showed iPhone sales jumped 18% in China last month. Goldman Sachs and AMD gained 2.04% and 2.38%, respectively, following analyst upgrades.