The Globe and Mail reports in its Friday edition that the S&P 500 and the tech-heavy Nasdaq rose modestly to record closing highs for a second straight day on Thursday on optimism that the worst of the Middle East conflict had passed after Israel agreed to a temporary ceasefire with Lebanon. A Reuters dispatch to The Globe says that Canada's main stock index ended modestly lower. Trading was choppy after U.S. President Donald Trump announced a 10-day cease-fire between Israel and Lebanon and told reporters Iran had offered not to have nuclear weapons for more than 20 years. Earlier in the day, Bloomberg cited Gulf and European officials saying the U.S. needs six months to reach an Iran deal. Robert Phipps, a director at Per Stirling Capital Management in Austin, Tex., also pointed to a mixed bag of economic data on Thursday. New applications for U.S. unemployment benefits fell more than expected last week, suggesting labour market conditions remained stable, though employers are cautious about increasing head count as the war with Iran weighs on the economy. The S&P/TSX Composite Index ended down 103.76 points at 34,052.23, with declines for consumer-related shares offsetting gains for energy and real estate.