Dell Jumps 28.7% and Lifts Wall Street to Records as AI Demand Offsets Oil Fears

13 articles · Updated · The Associated Press · May 29

Dell climbed 28.7% after crushing profit forecasts and raising its outlook on AI-computing demand, helping keep all three major U.S. indexes near fresh records Friday.
The S&P 500 rose 0.3%, the Dow added 349 points and the Nasdaq gained 0.3%, putting the benchmark on track for a ninth straight winning week—its longest since 2023.
Microsoft rose 3.9% and Broadcom 2.9%, extending a tech-led rally that has pushed the S&P 500 technology sector up more than 15% in May while most other sectors fell.
Brent crude dropped 2.1% to $90.78 and U.S. crude fell 2.3% to $86.89 on reports Washington and Tehran were working to extend a ceasefire, easing one inflation pressure.
That relief comes as inflation remains elevated—the Fed’s preferred gauge hit a three-year high in April—and investors expect rates to stay unchanged in June and likely through 2026.

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