US stocks gain ground, adding to their records, as Dell soars
[May 30, 2026] By
DAMIAN J. TROISE and ALEX VEIGA
Wall Street pushed further into the record books Friday, as the major
stock indexes extended the market’s recent winning streak and closed out
a solid month of gains.
The S&P 500 rose 0.2%, notching its seventh consecutive gain and ninth
straight winning week — the longest such streak since 2023. The
benchmark index set an all-time high for the fourth day in a row.
The Dow Jones Industrial Average gained 0.7% and the Nasdaq composite
added 0.2%. The Dow and Nasdaq also reached new heights after posting
record highs earlier in the week.
Big technology stocks have been behind much of the market’s
record-breaking streak. Their pricey stock values give them more
influence in directing the market higher or lower. In May alone,
technology stocks within the S&P 500 rose more than 15%, while most of
the sectors in the benchmark index actually lost ground.
“The rally has been largely tech-led and supported by resilient
earnings, but the key question is whether it can be sustained,” wrote
Angelo Kourkafas, senior global strategist at Edward Jones, in a
research note.
Tech stocks also powered the market higher Friday. Microsoft rose 5.4%
and Broadcom gained 4.7%.
Dell Technologies surged 32.8% to lead all stocks in the S&P 500 after
delivering profits that blew past expectations. The company also raised
its outlook, citing powerful demand for AI computing.
Most other sectors in the S&P 500 lost ground Friday. Among the
decliners: Paramount Skydance fell 1.9%, Amazon.com dropped 1.2%, and
Costco Wholesale closed 3.9% lower.
Wall Street has been gaining ground despite worries that the U.S. war
with Iran is worsening inflation and jeopardizing economic growth.
The U.S. and Iran are reportedly working toward a deal to extend a
ceasefire. That eased pressure on oil prices. The price for August
delivery of Brent crude, the international standard, fell 1.7% to settle
at $91.12 per barrel. It is still well above the $70 per barrel level in
late February before the war began. The price for a barrel of benchmark
U.S. crude oil for July delivery fell 1.7% to settle at $87.36.
Treasury yields held relatively steady as oil prices fell. The yield on
the 10-year Treasury slipped to 4.44% from 4.45% late Thursday.
Still, high oil prices remain a key concern for Wall Street. The war has
stifled the flow of oil shipments through the Strait of Hormuz. Roughly
a fifth of the world’s oil and natural gas is shipped through the
waterway.
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Options trader Steven Rodriguez, center, works on the floor of the
New York Stock Exchange, Friday, May 29, 2026. (AP Photo/Richard
Drew)
 That has pushed up prices for
gasoline and a wide range of goods, feeding inflation and squeezing
consumers and businesses. Prices were already rising before the war
began from the ongoing impact of tariffs.
Several reports this week reflected inflation’s rise and impact on
consumers. A measure of inflation preferred by the Federal Reserve
accelerated in April to its highest level in three years. Consumer
confidence is slipping amid the squeeze from rising inflation.
Wall Street’s worries about rising inflation have been somewhat
muted by the latest round of corporate profit reports. Companies in
the S&P 500 have reported profit growth of 28% overall for the most
recent quarter, according to FactSet. The overwhelming majority of
companies in the S&P 500 have already reported their latest results.
That could mean investors’ focus may shift back toward inflation,
consumers’ behavior and the Fed’s path ahead for interest rates.
The Fed has been holding its benchmark interest rate steady as it
closely watches rising inflation. It is expected to continue holding
rates steady at its next meeting in June and through the year,
according to CME’s FedWatch tool. Cutting interest rates could help
lower borrowing costs and give the economy a jolt, but it could also
worsen inflation at time when prices are already high and rising.
Despite the market turbulence caused by the conflict in the Middle
East, stocks notched further gains in May. The S&P 500 closed out
the month with a 5.1% gain. It’s up 10.7% so far this year.
All told, the S&P 500 rose 16.43 points to 7,580.06 on Friday. The
Dow gained 363.49 points to 51,032.46, and the Nasdaq added 55.15
points to finish at 26,972.62.
Markets in Europe and Asia mostly rose.
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