Stock market today: S&P 500, Nasdaq notch fresh records as tech leads markets higher, oil falls

May 6, 2026 - 03:44

Wall Street closed with fresh record highs on Tuesday, as a rally in technology stocks pushed the S&P 500 and the Nasdaq Composite into uncharted territory. The gains came amid a cautious tone in energy markets, where oil prices declined as traders watched the fragile US-Iran ceasefire deal.

The S&P 500 rose 0.6 percent, while the Nasdaq climbed 0.9 percent, both closing at all-time highs. The Dow Jones Industrial Average lagged, adding just 45 points. Big tech names led the charge, with shares of major semiconductor and software companies posting solid gains. Investors appeared to shrug off lingering geopolitical concerns, focusing instead on the upcoming wave of corporate earnings reports.

On the commodity side, crude oil futures fell more than 2 percent. The drop followed reports that the US and Iran had agreed to a temporary halt in hostilities, though details remained sparse and the situation was described as fragile. Analysts warned that any breakdown in the ceasefire could quickly reverse the price decline. Markets are now bracing for a busy week of earnings from major banks and tech firms, which will provide a clearer picture of corporate health and consumer demand.