Wall St inches to higher close, AI fervor edges out Iran impasse
By Stephen Culp and Ragini
Mathur
Mon May 11, 2026
It was a day of very choppy trading but still closing modestly in the black though all three indexes were much higher earlier in the day, the Nasdaq up over 100 points around noon before declining and closing up a mere 27. Tech is once again dominating with AI taking the lead sufficiently to edge out war jitters with Trump rejecting the latest Iran peace proposal and oil once again spiking as a result.
A raft of reports coming later this week include CPI, PPI, and retail sales to get the pulse on inflation. Eyes are on next week’s big box retailers to see if consumer spending is keeping up. With Q1 now wrapping up, focus is shifting to fundamentals and geopolitical concerns with one cynic predicting the stock market is right around the corner from a serious crash. That aside, Q1 earnings growth is now projected at 28.6%, doubled from April 1. Volume came in at 21.4 billion, well above the 17.99 average.
DJ: 49,609.16 +12.19 NAS: 26,247.08
+440.88 S&P: 7,398.93
+61.82 5/8
DJ: 49,704.47 +95.31 NAS: 26,274.13
+27.05 S&P: 7,412.84
+13.91 5/11
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