03:59 PM EDT, 03/25/2026 (MT Newswires) -- US equity indexes were off session highs ahead of Wednesday's close as Tehran reportedly made a counteroffer to the Trump administration's plan to end the Iran war.

The Nasdaq Composite rose 0.6% to 21,900.9, with the S&P 500 up 0.5% to 6,587.2, and the Dow Jones Industrial Average 0.6% higher at 46,420.7.

West Texas Intermediate crude oil futures were down 1.6% to $90.89 after dropping more than 5% earlier in the session.

On Wednesday, two Pakistani officials said that Iran had received a 15-point proposal from the US to pause the ongoing military conflict in the Middle East, according to a report by AP News.

Israel's Channel 2 reported that the US is seeking a month-long ceasefire to discuss the plan, which includes the dismantling of Iran's nuclear program, ceasing support for proxy groups and the reopening of the Strait of Hormuz, the choke point for global crude oil flows, according to The Star.

Iran's state media reported Wednesday that Tehran has laid out its own list of conditions for ending the war, according to CNBC. Press TV, citing a senior political-security official with knowledge of the proposal, reported that Iran's five-point counteroffer would give Tehran control over the Strait of Hormuz.