S&P 500 Tops 7,600 as AI Fuels Nine-Day Win Streak: Markets Wrap
(Bloomberg) — A revival of the artificial-intelligence trade kept driving Wall Street momentum, with stocks also rising on hopes for an agreement that would end the war that has roiled financial markets around the world.
Tech shares led equities to record highs, with the S&P 500 topping 7,600. The index notched a nine-day winning run, the longest since May 2025. A gauge of chipmakers rose nearly 6%. Marvell Technology Inc. soared 33% as Nvidia Corp.’s Jensen Huang predicted the firm will hit $1 trillion in value. Hewlett Packard Enterprise Co. jumped after raising its AI-fueled sales forecast.
“Tech continues to dominate the market,” said veteran strategist Louis Navellier. “The trend remains positive, with the catalyst for further material gains possible with a resolution with Iran.”
President Donald Trump is still optimistic the US can reach an interim peace deal soon. He disputed reports in Iranian state media that said talks with Washington had been suspended over the fighting in Lebanon, saying the two sides have been “continuously” having conversations, including “today.”
Officials in Tehran are discussing their “final text” to send to the US, Iran’s Mehr news agency reported. In a volatile session, US crude settled near $94.
Even as businesses navigated rising energy costs sparked by the Iran war, US job openings jumped in April to the highest level in almost two years and layoffs fell, adding to signs the labor market remained resilient.
“The jobs market continues to hold its ground,” said Bret Kenwell at eToro. “There’s hope that energy prices will retreat after a geopolitically charged surge in the first quarter, allowing the Fed to stay on hold while inflation eases in the second half of the year. Pair that with rising earnings expectations, and it could help propel stock prices higher.”
A boom in stocks is being driven by an appetite for profit that’s outweighing fears about economic disruption and inflation risks, said Goldman Sachs Group Inc. Chief Executive Officer David Solomon.
“We are definitely in a moment where there’s more greed than there is fear,” Solomon said in an Economic Club of New York appearance Tuesday. “The capital is available.”
Elsewhere, US investment-grade bond sales reached $1 trillion sooner than in any year since 2020 as historically low spreads and a spending surge on AI fuel borrowing by blue-chip companies. Meantime, souring Bitcoin sentiment sent the largest digital asset sinking.
Corporate Highlights:
Alphabet Inc. is raising $80 billion through a package of equity offerings, including an investment deal with Berkshire Hathaway Inc., as the company races to fund its ambitious AI spending plans. Microsoft Corp. announced an updated quantum-computing chip, betting it can set up a commercially useful machine by 2029. OpenAI is expanding the functionality of its AI coding agent for a number of professions beyond software engineering, a bid to compete with rivals such as Anthropic PBC in signing up more business customers. Victoria’s Secret & Co. beat earnings estimates and boosted its outlook, adding to signs of progress for Chief Executive Officer Hillary Super’s turnaround plan. Some Dollar General Corp. shoppers are cutting back on food and other household expenses due to rising gas prices, Chief Executive Officer Todd Vasos said on the company’s earnings call. Some of the main moves in markets:
Stocks
The S&P 500 rose 0.1% as of 4 p.m. New York time The Nasdaq 100 rose 0.5% The Dow Jones Industrial Average rose 0.4% The MSCI World Index rose 0.3% Currencies
The Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1634 The British pound rose 0.1% to $1.3471 The Japanese yen fell 0.2% to 159.92 per dollar Cryptocurrencies
Bitcoin fell 5.8% to $67,191.16 Ether fell 4.6% to $1,910.71 Bonds
The yield on 10-year Treasuries was little changed at 4.45% Germany’s 10-year yield declined three basis points to 2.98% Britain’s 10-year yield declined four basis points to 4.86% Commodities
West Texas Intermediate crude rose 1.6% to $93.64 a barrel Spot gold was little changed ©2026 Bloomberg L.P.
