S&P 500 Caps 9th Weekly Gain, Up 16% Since March on AI and Iran Ceasefire Hopes

14 articles · Updated · Financial Times · May 29

A 1.4% weekly rise gave the S&P 500 its ninth straight weekly gain, the longest such streak since December 2023, while the Nasdaq has climbed nearly 25% since the end of March.
Signs Washington and Tehran are nearing an extension of the April 8 ceasefire lifted risk appetite, with Trump saying he was close to a final decision even as Iranian officials said talks were still continuing.
AI enthusiasm added fuel: Dell jumped 33% Friday after reporting fiscal first-quarter sales up 88% to $43.8 billion, AI server revenue up 757% to $16.1 billion, and a full-year revenue outlook of as much as $169 billion.
That surge reflects a broader chip boom, with the Philadelphia Semiconductor Index up 81% this year and on pace for its biggest return since the dotcom era.

Is Wall Street's AI rally a true productivity revolution or just an incredibly expensive tech bubble?

Can a lasting US-Iran peace deal be reached while both sides continue to exchange fire in a key global waterway?