US stocks today: S&P 500 and Nasdaq hit record closing highs as US and Iran agree to extend ceasefire

Reuters
​The S&P 500 and the Nasdaq posted record closing highs on Thursday after news reports said the U.S. and Iran had reached a draft agreement to extend their ceasefire for 60 days, while investors also digested key inflation data.

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The news was first reported by Axios, which said that negotiations ‌on Iran’s nuclear program ⁠would ⁠be held during the truce period, but that the plan still needed the approval of President Donald Trump.

As on 29 May 2026, 01:20 AM IST

S&P 500 Top Gainers

Dollar Tree113.04(17.91%)
Agilent Technologies136.16(17.54%)
Best Buy Co75.15(16.43%)
Axon Enterprise441.76(12.89%)

Gainers»

S&P 500 Top Losers

Synopsys476.22(-9.45%)
Coterra Energy32.56(-8.62%)
Tyson Foods62.18(-5.82%)
Norfolk Southern308.60(-5.25%)

Losers»

“Traders are on a hair trigger with the back-and-forth ​on deal news, and have been leaning long to avoid getting trampled by a better-than-expected outcome. The harder part is that the inflationary forces ​may not abate as fast as markets want,” said Jamie Cox, managing partner at Harris Financial Group. Economic data showed U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the Iran war. Meanwhile, U.S. ​GDP for the first quarter was revised lower to a 1.6% annualized increase, ⁠with momentum expected ‌to slow this quarter.

According to preliminary data, the S&P 500 gained 43.50 points, or 0.58%, to ​end at 7,563.71 ​points, while the Nasdaq Composite gained 239.79 points, or 0.91%, to 26,917.47. The Dow Jones Industrial Average ⁠rose 24.11 points, or 0.04%, to 50,666.29. The S&P 500 healthcare index posted strong ​gains. Eli Lilly advanced after CVS Health said it would restore the drugmaker’s weight-loss injection, ​Zepbound, to its coverage and add its newly approved obesity pill Foundayo.

Tech shares also moved higher. Microsoft gained after news website the Information reported that the company would release a new coding model next week.
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      “Markets continue to look through these risks because the global economy and ​corporate earnings remain ​relatively resilient,” said Jitania Kandhari, deputy CIO, ⁠solutions and multi-assets, at Morgan Stanley Investment Management.

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