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Stock market today: Dow, S&P 500, Nasdaq rally as Iran deal optimism offsets Fed hike worries

The Dow Jones reached a record closing high on Monday. The S&P 500 and Nasdaq finished the second quarter with their largest gains since 2020. Markets were driven by easing tensions between the US and Iran and a surge in AI stocks.

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What changed

Reports now specify that the Nasdaq ended the second quarter 21% higher and Alphabet debuted on the Dow.

Live updates

  1. Dow Hits Record High as US-Iran Tensions Ease

    The Dow Jones reached a record closing high on Monday. The S&P 500 and Nasdaq finished the second quarter with their largest gains since 2020. Markets were driven by easing tensions between the US and Iran and a surge in AI stocks.

    What's confirmed:

    • The Dow Jones reached a record closing high.
    • The S&P 500 and Nasdaq posted their best quarterly gains since 2020.
    • The Nasdaq ended the second quarter 21% higher due to the AI boom.
    • Market sentiment improved as US-Iran tensions eased.

    Still unconfirmed:

    • Alphabet made its debut on the Dow.
    • SpaceX was included in the Nasdaq 100.
    • Rocket Lab and Tesla stocks surged.
    confidence 90%

  2. Nasdaq and Dow Hit Record Highs Amid Iran Deal Hopes

    The Dow Jones and Nasdaq rose to record highs as investors reacted to potential U.S.-Iran war truce hopes. AI stock Snowflake saw significant gains. These movements occurred as markets balanced peace optimism against concerns over interest rates.

    Still unconfirmed:

    • The Dow Jones index reached a record high Thursday.
    • AI stock Snowflake soared.
    • Global stocks were mostly flat on Monday while oil prices fell.
    • Optimism over U.S.-Iran talks progress was offset by expectations of higher rates.
    confidence 60%

  3. US Stocks Rise on Iran Deal Optimism and Fed Policy Concerns

    The Dow, S&P 500, and Nasdaq advanced as a potential US-Iran peace agreement improved risk sentiment. These gains occurred while investors evaluated a cautious rate outlook from the Federal Reserve. Markets are now awaiting the May personal consumption expenditures price index reading.

    What's confirmed:

    • The Dow, S&P 500, and Nasdaq rose as optimism over a US-Iran peace agreement balanced Federal Reserve rate concerns.

    Still unconfirmed:

    • Vice President JD Vance stated in Switzerland that Iran agreed to allow nuclear inspectors into the country.
    • The US Treasury Department authorized Iranian sales of crude oil and petrochemical and petroleum products.
    • May's personal consumption expenditures price index reading is scheduled for 8:30 a.m. ET on Thursday.
    confidence 80%

  4. US Stocks Rally as Iran Peace Deal Optimism Offsets Fed Concerns

    The Dow, S&P 500, and Nasdaq are climbing as optimism over a U.S.-Iran peace agreement balances worries about hawkish Federal Reserve rate hikes. The Dow Jones Industrial Average reached new intraday and closing records. Chip stocks are supporting gains for the Nasdaq.

    What's confirmed:

    • The Dow Jones Industrial Average reached new intraday and closing records.
    • U.S. stock futures for the Nasdaq 100, S&P 500, and Dow Jones indices rose on Monday.
    • Optimism regarding a peace deal between the U.S. and Iran is offsetting concerns about a hawkish Federal Reserve.

    Still unconfirmed:

    • AI-driven layoffs and rising jobless claims are increasing economic concerns.
    confidence 90%