Micron (MU) Surge Drives Nasdaq, S&P 500 to Record Closes; Dow Edges Lower

The S&P 500 and Nasdaq Composite closed at all-time highs on May 26, 2026, propelled by a sharp rally in Micron Technology shares, while the Dow Jones Industrial Average bucked the trend and ended slightly lower. The tech-heavy Nasdaq led gains as semiconductor stocks surged following upbeat industry demand forecasts. Micron (MU) jumped more than 8% after analysts raised price targets, citing robust memory chip pricing and accelerating data center orders tied to artificial intelligence workloads. The advance lifted the Philadelphia Semiconductor Index by 2.4%, with peer chipmakers also posting gains. The S&P 500 rose 0.4%, surpassing its previous record set earlier in May, while the Nasdaq added 0.7%. The Dow slipped 35 points, or 0.1%, pressured by declines in healthcare and consumer staples components. Trading volumes were thinner than usual ahead of the Memorial Day holiday weekend. Market breadth remained positive, with advancing issues outpacing decliners on both the New York Stock Exchange and Nasdaq.