Standard & Poor's and Nasdaq hit record highs as oil continues to decline
Dow Jones Industrial Average
S&P 500 index
NASDAQ
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May 7 (Reuters) - The Standard & Poor's and Nasdaq indexes hit record highs on Thursday as oil prices continued to fall on hopes of a peace deal between the United States and Iran, which could lead to a return of normal oil supplies through the Strait of Hormuz.
By 9:30 a.m. Eastern Time, the Dow Jones Industrial Average had risen 192.59 points, or 0.39 percent, to 50,091.92.
The Standard & Poor's 500 index rose 6.38 points, or 0.09 percent, to 7374.11 points.
The Nasdaq Composite Index rose 40.33 points, or 0.16 percent, to 25,879.28.