S&P 500, Dow edge up as investors gauge U.S.-Iran talks

U.S. and Iranian officials held a first round of talks in Switzerland, with mediators saying they made “encouraging progress” and agreed to a roadmap toward a final deal within 60 days, though differences remained over Lebanon and the Strait of Hormuz. Semiconductor stocks climbed, pushing the Philadelphia SE Semiconductor index to a record as Micron Technology and Sandisk rose about 3% and Nvidia and Intel gained 1% and 2%. The Dow and S&P 500 posted modest gains while the Nasdaq slipped 0.01%. Oil prices fell as much as 2%.