S&P 500, Nasdaq Hit Record Highs as U.S.-Iran Extends 60-Day Ceasefire

9 articles · Updated · Reuters · May 28

The S&P 500 rose 0.61% to 7,565.99 and the Nasdaq gained 0.94% to 26,925.38, with both briefly touching intraday records as traders reacted to reports of a U.S.-Iran ceasefire extension.
Axios said Washington and Tehran agreed to hold nuclear-program talks during the 60-day truce, though the plan still requires President Donald Trump's approval.
April U.S. inflation accelerated at its fastest pace in three years, driven by higher energy prices from the Iran war, while first-quarter GDP was revised down to a 1.6% annualized gain.
Tech and healthcare helped power the rally: Microsoft climbed 3.8% on a report it will unveil a new coding model next week, and Eli Lilly added 3.9% after CVS restored Zepbound coverage.
Investors kept buying despite richer valuations and Middle East risks, betting resilient earnings and AI-linked spending can offset inflation pressure and geopolitical uncertainty.

As Israel continues its strikes on Hezbollah, can the fragile US-Iran truce truly prevent a much wider regional war?

With US advanced munitions critically depleted, can Washington deter other global adversaries while its arsenal is being rebuilt?