Berkshire shares left behind as S&P 500 rallies to record high

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Optimism that the U.S. conflict with Iran is approaching a resolution helped lift the S&P 500

index to its first close above 7,100.

The benchmark is up more than 9% so far this month as fears about global conflict, earnings, artificial intelligence, and inflation all eased since the S&P 500 hit its lowest level of the year in late March, when it was nearing a 10% correction.