S&P 500, Dow, Nasdaq Notch Record Closes on US-Iran Ceasefire MoU Report

U.S. stocks rallied to all-time closing highs on Thursday, May 28, 2026, after a report of a tentative 60-day U.S.-Iran ceasefire and nuclear negotiations memorandum of understanding. The S&P 500 rose 0.6% to 7,563.63, the Dow Jones Industrial Average added 0.05% to 50,668.97, and the Nasdaq Composite gained 0.9% to 26,917.47, each a record finish. Axios reported the MoU awaits President Trump’s approval, easing geopolitical tensions despite recent skirmishes near the Strait of Hormuz. Oil prices retreated, with Brent crude dipping near $93 a barrel and WTI falling below $90. The AI sector provided additional lift, as the Philadelphia Semiconductor Index surged 1%. Inflation data showed the core PCE index rose 3.3% year-over-year, a 2.5-year high, but risk appetite dominated. Cryptocurrencies remained under pressure, with Bitcoin near $73,000 and over $1 billion in liquidations across the past 24 hours.