Tech Gains Lift Nasdaq and S&P 500 Amid Iran Peace Hopes
The Nasdaq and S&P 500 rose on Tuesday as surging chip stocks outweighed concerns over a fragile U.S.-Iran ceasefire. While WTI crude prices fell on hopes for a peace deal, Brent crude spiked following defensive U.S. strikes in Iran. Investors remain cautious as consumer confidence dipped amid persistent inflation worries.
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The Nasdaq Composite and S&P 500 rose on May 26 as chip stocks fueled a technology-led rally. U.S. markets diverged from European losses as investors weighed a tenuous ceasefire between the United States and Iran. The split performance highlights market uncertainty regarding a definitive peace deal and the reopening of the Strait of Hormuz.
