Some 200,000 mail carriers have reached a tentative agreement with the U.S. Postal Service that includes backdated pay raises and a promise to provide workers with air-conditioned trucks.

The new agreement, which still needs to be ratified, runs until November 2026. Postmen have been working without a contract since May 2023.

“Both sides did not get everything they wanted. But by negotiating in good faith, we reached an agreement that meets our goals and rewards our members,” Brian Renfroe, president of the National Association of Letter Carriers, told the Associated Press.

Among other improvements, the deal raises top wages and reduces the time it takes new workers to reach that level, Renfroe said. He thanked Postmaster General Louis DeJoy for negotiating in good faith throughout this arduous process.

US stocks closed their last winning week with new records

The S&P 500 rose 0.4% to surpass the all-time high it set earlier this week. The Dow Jones Industrial Average added 36 points, or 0.1%, to its own record set the day before, and the Nasdaq composite gained 0.6%.

Netflix helped boost the market with a jump of 11.1% after the streaming giant reported a profit for the latest quarter that was higher than analysts expected.

That helped offset a 5.2% decline for CVS Health, which said it was likely to report profit for the latest quarter that was well below what analysts expected. The company also announced that David Joyner, executive vice president, will take over as president and CEO from Karen Lynch.

Overall, trading on Wall Street remained relatively calm, as the S&P 500 closed out its sixth straight winning week. This is his longest such winning streak in 2024.