The Nasdaq 100 notched a record-high close on Tuesday for the first time since February, rebounding from deep losses in recent months related to worries about U.S. President Donald Trump's global tariffs.

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The index, which includes 100 of the most valuable non-financial companies listed on the Nasdaq stock exchange, rose 1.5% to end at 22,190.52 as investors welcomed a fragile truce between Israel and Iran. Its previous record high close was 22,175.60 on February 19.

Driving Nasdaq's record high was news that Israel and Iran signaling their air war had ended, and as investors awaited more comments from Federal Reserve Chair Jerome Powell.

All three major indexes gained more than 1% on Tuesday and the benchmark S&P 500 index was less than 1% below its all-time peak, as the de-escalation in Middle East hostilities supported risk sentiment.

"Turning back to yesterday's market moves, the key reason the market rallied so much was because lower oil prices (and hence lower inflation) are keeping the prospect of rate cuts in play this year," Jim Reid, global head of macro and thematic research at Deutsche Bank, said in a note.