Dow Records on Iran Peace Hopes as SpaceX, AMD Drag Nasdaq

The Dow closed at a record on signs of progress toward a peace deal with Iran, rising about 263 points to 54,349.06, while the Nasdaq slipped about 0.8% as SpaceX and AMD fell on earnings-related concerns: SpaceX tumbled roughly 13.6% despite revenue doubling as investors worried about AI-spending sustainability, and AMD dropped about 7% after guiding above estimates but facing spending scrutiny. Amgen helped lift the Dow, Disney rose on earnings, and broader data showed slower private payroll growth with ISM services showing continued expansion, keeping Fed rate expectations in play for September.