Wall Street hits new closing highs on tech strength, Middle East deal hopes
By Saeed Azhar, Twesha
Dikshit and Utkarsh
Shetti
Fri May 29, 2026
It was a choppy day for tech, up and down all day but still closing with modest gains, while the Dow reaped the benefit of exceptionally high volume suggesting more and more people were feeling good about coming into the market. The Dow was up all day and closed with a very nice 3-digit gain. But AI and really good Q1 earnings remain the major market drivers while Trump’s announcement that a final decision on Iran will be made today also brought hopes.
A very good day for Dell boosted the entire tech sector which was up 1.87% while software services did even better with a 6%+ gain. For the month, the S&P jumped 5.15%, the Dow 2.78% and the Nasdaq a whopping 8.36%. Despite the surge in the Dow, the consumer staples sector was down. Two Fed officials warned that inflation and the oil shock will continue and that policy might have to be tightened, especially following yesterday’s report that inflation was growing at its fastest pace in 3 years. Volume was way up at 23.9 billion vs the 19.36 average.
DJ: 50,668.97 +24.69 NAS: 26,917.47
+242.74 S&P: 7,563.63
+43.27 5/28
DJ: 51,032.46 +363.49 NAS: 26,972.62
+55.15 S&P: 7,580.07
+16.44 5/29
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