Wall St ends mostly higher as Dow claims record closing high

STORY: U.S. stocks mostly gained ground Thursday as progress toward ending the Iran war buoyed investor sentiment.The Dow rose 1.7% and notched another record closing high, the S&P 500 added four-tenths of one percent, while the Nasdaq fell a hair.Broadcom contributed to the index’s lackluster day. Its shares declined 12.5% after the chip company issued disappointing results. :: ArchiveAnna Rathbun, founder and CEO of Grenadilla Advisory, said the changing business conditions discussed by Broadcom on its earnings call could be a warning sign for other AI companies.“The traders, the investors and the markets are anticipating potentially falling margins in the future because of the shift in Broadcom's business. Now this actually has implications for rest of AI, right? Because number one, everybody's moving to AI and the costs are definitely going up of raw materials and partnerships, etc. And unless you can pass that down to your customer, at this point they can because the demand is high. At some point they won't be able to. And that means margin pressure. So the markets may be looking at that as a canary in the coal mine. “The U.S. House of Representatives passed a measure on Wednesday that would block President Donald Trump from continuing the war on Iran.Additionally, a U.S.-mediated ceasefire agreement between Israel and Lebanon, an essential condition of an Iranian agreement to a peace deal, bolstered optimism of a near-term resolution to the war. But the truce was rejected by the pro-Iran Hezbollah, which said it would not withdraw troops from Lebanon.Other stocks on the move included UnitedHealth which advanced 5% after Bank of America raised its rating on the healthcare conglomerate's shares to "buy."And Pinterest climbed about four and a half percent after announcing it would spend $4 billion to strengthen a long-term partnership with Amazon.