The S&P 500 Index (SPY  ) and Nasdaq Composite (QQQ  ) each closed at record highs on Wednesday as investors poured into growth stocks on news that the United States has extended its ceasefire with Iran.

The broader market average rose over 1% to settle at 7,137.90 for the first time, while the tech-heavy index advanced 1.6% to close at 24,657.57. The Nasdaq also notched a fresh all-time intraday high on Wednesday. Rounding out the major averages, the Dow Jones Industrial Average (DIA  ) climbed 340 points to end the session at 49,490.03.

President Donald Trump wrote in a Truth Social post that the "Government of Iran is seriously fractured," leading Tehran to ask the U.S. to "hold our Attack on the Country of Iran until such time as their leaders and representatives can come up with a unified proposal."

"I have therefore directed our Military to continue the Blockade and, in all other respects, remain ready and able, and will therefore extend the Ceasefire until such time as their proposal is submitted, and discussions are concluded, one way or the other," Trump added.

On the earnings front, Boeing (BA  ) reported mixed first quarter earnings on Wednesday, as the aerospace manufacturer narrowed its net loss to $7 million from $31 million in the previous year as sales rose 14% to $22.22 billion.

"Though we've faced some challenges, I'm proud of how our team has pulled together and worked through them to keep us on plan for the year," CEO Kelly Ortberg told employees in a note on Wednesday. "When we work as a team, it's incredible what we can do as a company."

Looking ahead, headlines surrounding the U.S.-Iran war will continue to dominate market moves. Key earnings reports for Thursday include Tesla (TSLA  ), Intel (INTC  ), Honeywell International (HON  ), Lockheed Martin (LMT  ), and Comcast (CMCSA  ).