The S&P 500, Nasdaq 100, and Russell 2000 set new record closing highs
Stocks wavered before closing in the green as traders monitored the timeline for ending the US-Iran war.
Stocks initially rallied on news of a 10-day ceasefire between Israel and Lebanon, but then pared gains on reports from Gulf and European officials that the US-Iran deal would take six months to finalize. Ultimately, the S&P 500 and Nasdaq 100 ended the day higher, cinching their second consecutive record closing highs. The Russell 2000 also notched a new closing high, its first since January. Today was the fifth straight session of gains for the S&P 500, and the 12th straight winning session for the Nasdaq 100.
Energy was the best-performing sector as oil prices rose, while healthcare was the worst performer.
Stocks that moved higher:
Hims & Hers jumped after Health Secretary Robert F. Kennedy Jr. said the FDA may ease restrictions on 12 peptides.
Following Allbirds’ lead, social media company Myseum soared after pivoting to AI.
Voyager Technologies climbed after being selected by NASA for its International Space Station mission.
Frontier climbed following reports that rival discount carrier Spirit Airlines could liquidate as soon as this week.
Oracle continued to rise, putting it on track for its best weekly gain since June of 1999.
Stocks that moved lower:
Despite boosting its 2026 sales outlook and touting “extremely robust” AI demand, TSMC dipped after reporting Q1 earnings this morning.
Flutter Entertainment ticked down after Citi double downgraded the stock to “sell” with a new price target of $92 (from $212).
