Global equities traded mixed on June 25 as markets factored in ongoing concerns over the conflict between Iran and Israel. Meanwhile, Nvidia reached a new all-time high thanks to optimism about artificial intelligence, AFP reports.

Analysts cited not only fears that the ceasefire between Iran and Israel could fail, but also a US leak that said the strikes had delayed Tehran's nuclear programme by just a few months.

"The U.S. bombing may not have destroyed Iran's nuclear program," said Jack Ablin of Cresset Capital Management.

The S&P 500 index ended the day unchanged, while the Dow fell and the Nasdaq advanced.

"Investors seem to be catching their breath because we had a very strong move on Monday and Tuesday," said Sam Stovall, chief investment officer at CFRA Research. "Everyone is talking about Nvidia today."

The chip company shot up 4.3 percent to $154.31, giving it a market valuation of about $3.76 trillion - more valuable than Microsoft, Apple and other tech giants.

The boost came as CEO Jensen Huang presented the company's latest technology at Nvidia's annual meeting.

Asian stock markets closed higher earlier on June 25 following gains on Wall Street and in Europe the previous day. But European stocks fell during the June 25 session.

Meanwhile, oil prices rallied after two days of big losses following the US crude inventories report, which showed a bigger-than-expected drawdown in stocks. The dollar continued to fall against the euro.

Although the conflict between Israel and Iran has dominated global attention in recent days, markets are once again turning their attention to trade.

FedEx shares fell 3.3% after the shipping company failed to provide a full-year forecast, citing uncertainty over the outlook for global trade and tariffs.

Dozens of countries are negotiating with Washington to conclude some kind of trade agreement to mitigate the impact of US tariffs.

Only Britain has reached an agreement, although Beijing and Washington have agreed to reduce tariffs from the highest rates they have imposed on each other. | BGNES