Dow, S&P 500, Nasdaq Close at Simultaneous Record Highs as Oil Tumbles on Iran Talks

U.S. stocks advanced on May 27, 2026, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all posting record closes simultaneously for the first time since October 2025, powered by a more than 5% plunge in crude oil. The Dow gained 182.60 points, or 0.36%, to 50,644.28; the S&P 500 added 1.24 points to 7,520.36; and the Nasdaq rose 18.55 points to 26,674.74. West Texas Intermediate crude settled at $88.68 a barrel, down 5.2%, while Brent fell over 5% to $94.29. The selloff followed Secretary of State Rubio’s comments that Iran negotiations had made progress, cooling fears of a Strait of Hormuz supply disruption. Markets now brace for Thursday’s personal consumption expenditures price index, the Federal Reserve’s preferred inflation measure, for signals on new Chairman Kevin Warsh’s policy stance. The Philadelphia Semiconductor Index bucked the trend, falling 1.36% as memory chip momentum paused. Qualcomm dropped 6.2%, while Micron extended its surge by 3.63% after its market value topped $1 trillion. Goldman Sachs lifted its end-2026 S&P 500 target to 8,000, though some strategists cautioned that AI-driven semiconductor valuations have become overly stretched.