Wall Street rebounds as oil prices drop on Iran-Pakistan mediation

Wall Street rebounded Tuesday as falling oil prices, driven by Pakistan's mediation in the Iran conflict, boosted investor sentiment. Major indices closed higher. The Dow Jones rose 0.3% to 53,577.40 points, the S&P 500 gained 0.32% to 6,677.28, and the Nasdaq climbed 0.66% to 26,151.30. Treasury yields fell, with the 10-year at 4.637%, following reports the U.S. Treasury may use its $1 trillion account for bond buybacks. Oil prices dropped over 3% after Pakistan's army chief met Iran's president in Tehran. Semiconductor stocks rallied, with Nvidia up 2.2% ahead of its earnings report, ending a seven-session losing streak.