S&P 500, Dow Close at Record Highs

2026-05-27 20:59 By Andre Joaquim 1 min. read

US equities closed mixed on Wednesday as gains for traditional economic sectors clashed against a pullback for chip producers and AI hyperscalers.

The S&P 500 gained 0.2% and the Dow jumped 220 points, both at their record highs.

Iran said it has a draft for a peace agreement that would restore trade through the Persian Gulf within a month of being signed, momentarily stoking risk-on moves in before US authorities claimed the document was a complete fabrication.

Meta and Amazon rebounded from early session losses and closed sharply higher.

Also, Eli Lilly gained 2% and P&G surged nearly 4% to set the pace for defensive sectors.

In turn, companies in the AI space trimmed gains from the week as markets assessed the sustainability of their rally, pressuring the Nasdaq 100 to a 0.2% loss.

Nvidia fell 1$ and Qualcomm dropped 6%.

On the other hand, Micron jumped 3.5% to extend the 19% surge from last session after being upgraded by UBS.

In afterhours, Salesforce fell 2% after earnings.



News Stream
S&P 500, Dow Close at Record Highs
US equities closed mixed on Wednesday as gains for traditional economic sectors clashed against a pullback for chip producers and AI hyperscalers. The S&P 500 gained 0.2% and the Dow jumped 220 points, both at their record highs. Iran said it has a draft for a peace agreement that would restore trade through the Persian Gulf within a month of being signed, momentarily stoking risk-on moves in before US authorities claimed the document was a complete fabrication. Meta and Amazon rebounded from early session losses and closed sharply higher. Also, Eli Lilly gained 2% and P&G surged nearly 4% to set the pace for defensive sectors. In turn, companies in the AI space trimmed gains from the week as markets assessed the sustainability of their rally, pressuring the Nasdaq 100 to a 0.2% loss. Nvidia fell 1$ and Qualcomm dropped 6%. On the other hand, Micron jumped 3.5% to extend the 19% surge from last session after being upgraded by UBS. In afterhours, Salesforce fell 2% after earnings.
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The Dow Jones Index Closes 0.37% Higher
The Dow Jones Index went up by 188 points or 0.37 percent on Wednesday to close at 50649 points. The rise was led by P&G (3.22%), Boeing (2.49%) and Amazon (2.47%). On the downside, the weakerst performers were JPMorgan (-2.46%), Travelers Companies (-1.58%) and Chevron (-1.34%).
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US Stocks Falter on Tech Pullback
US equities closed mixed on Wednesday as broad gains for traditional sectors clashed against sharp losses for chip producers and AI hyperscalers. The S&P 500 and the Dow gained 250 points for their record highs. A draft for a peace agreement with the US by Iran indicated they were open to restore trade through the Persian Gulf, although the US stated the document was a complete fabrication. Amazon and Meta both jumped, while Eli Lilly, Coca Cola and P&G gained up to 3.5% to set the pace for defensive stocks. In turn, the Nasdaq 100 inched lower due to a pullback for AI infrastructure companies. Nvidia dropped 1% while Qualcomm sank 6%, correcting from their strong momentum this year as markets continued to assess the sustainability of the rally for companies in the AI infrastructure space. On the other hand, Micron held its 19% surge from the last session after having its price target tripled by UBS.
2026-05-27