{"slug": "stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally", "title": "Stocks climb to new records amid peace prospects; chip stocks rally", "summary": "The S&P 500, Nasdaq 100, and Russell 2000 all closed at record highs after President Donald Trump said negotiations with Iran are “proceeding nicely” and reports emerged that the US Navy has restarted shepherding vessels through the Strait of Hormuz. Chip and memory stocks rallied, led by Micron soaring after UBS more than tripled its price target, while energy stocks fell as oil prices declined on the peace prospects.", "body_md": "# Stocks climb to new records amid peace prospects; chip stocks rally\n\nHopes of an imminent peace deal with Iran and reports that the US Navy has restarted shepherding vessels through the Strait of Hormuz sent stocks higher and oil prices lower.\n\nThe S&P 500, Nasdaq 100, and Russell 2000 all notched fresh record closing highs after President Donald Trump said in a Truth Social post that negotiations with Iran are “proceeding nicely.” Trump’s comments, along with reports that the US Navy has restarted shepherding vessels through the Strait of Hormuz, contributed to a [worldwide rally in stocks](https://sherwood.news/markets/global-stocks-soar-on-hopes-of-us-iran-deal-boundless-bullishness-on-memory-stocks/) and sell-off in crude oil.\n\nInformation technology was the best-performing sector as [chip and memory stocks rallied](https://sherwood.news/markets/micron-soars-ubs-more-than-triples-price-target-to-1625-wall-street-high-memory-chips-ai-boom/), while energy was the worst-performer as oil prices fell.\n\n**Stocks that moved higher:**\n\n[Micron](https://robinhood.com/us/en/stocks/MU/?source=sherwood)soared, with its market cap[topping $1 trillion for the first time](https://sherwood.news/markets/micron-soars-ubs-more-than-triples-price-target-to-1625-wall-street-high-memory-chips-ai-boom/?utm_source=robinhood), after UBS more than tripled its price target to $1,625 from $535. The massive upgrade lifted the entire memory sector, with[Sandisk](https://robinhood.com/us/en/stocks/SNDK/?source=sherwood),[Western Digital](https://robinhood.com/us/en/stocks/WDC/?source=sherwood), and[Seagate Technology Holdings](https://robinhood.com/us/en/stocks/STX/?source=sherwood)all climbing on the news.[Oklo](https://robinhood.com/us/en/stocks/OKLO/?source=sherwood)jumped after saying it's in[advanced negotiations with the US Department of Energy](https://sherwood.news/markets/oklo-us-plutonium-recycling-selection/?utm_source=robinhood)to recycle Cold War-era plutonium into commercial nuclear fuel.[Qualcomm](https://robinhood.com/us/en/stocks/QCOM/?source=sherwood)spiked after a report that it's[reached a deal to supply AI chips to TikTok owner ByteDance](https://sherwood.news/markets/qualcomm-spikes-after-report-that-its-selling-millions-of-ai-chips-to-tiktok-owner-bytedance/?utm_source=robinhood).[Modine](https://robinhood.com/us/en/stocks/MOD/?source=sherwood)soared after announcing a[$4 billion data center cooling deal](https://www.investing.com/news/stock-market-news/modine-stock-surges-14-on-4b-data-center-cooling-deal-93CH-4709369).[TeraWulf](https://robinhood.com/us/en/stocks/WULF/?source=sherwood)jumped after announcing its[acquisition of a 1-gigawatt Kentucky data center site](https://sherwood.news/markets/terawulf-jumps-on-1-gigawatt-kentucky-data-center-site-acquisition/).[Vicor](https://robinhood.com/us/en/stocks/VICR/?source=sherwood)surged after[boosting its Q2 revenue guidance](https://sherwood.news/markets/wolfspeed-and-navitas-soar-huawei-tech-breakthrough-vicor-guidance/)to $142 million from $126 million. The raised guidance lifted power semiconductor peers, with[Wolfspeed](https://robinhood.com/us/en/stocks/WOLF/?source=sherwood)and[Navitas Semiconductor](https://robinhood.com/us/en/stocks/NVTS/?source=sherwood)also soaring on the news combined with positive spillovers from a Huawei tech breakthrough.[Ouster](https://robinhood.com/us/en/stocks/OUST/?source=sherwood)surged after announcing a[strategic agreement](https://investors.ouster.com/node/11811/pdf)to supply its lidar technology for ARGUS Interception's defense drones.[Pony AI](https://robinhood.com/us/en/stocks/PONY/?source=sherwood)climbed after saying it expects its[2026 robotaxi revenue to be 3.5 times its 2025 level](https://cnevpost.com/2026/05/26/pony-ai-raises-2026-robotaxi-revenue-target/).\n\n**Stocks that moved lower:**\n\n[Ferrari](https://robinhood.com/us/en/stocks/RACE/?source=sherwood)dropped after[unveiling its first fully electric vehicle](https://www.reuters.com/business/autos-transportation/ferrari-bets-generational-tech-shift-with-luce-five-seat-ev-2026-05-25/).[BP](https://robinhood.com/us/en/stocks/BP/?source=sherwood)tumbled after its board[removed Chairman Albert Manifold](https://www.cnbc.com/2026/05/26/bp-chair-albert-manifold-removed-conduct-governance-issues.html), citing unacceptable governance oversight and conduct issues.[AutoZone](https://robinhood.com/us/en/stocks/AZO/?source=sherwood)sank on a[Q3 revenue miss](https://uk.finance.yahoo.com/news/autozone-falls-revenue-misses-despite-115807229.html).[Kroger](https://robinhood.com/us/en/stocks/KR/?source=sherwood)fell after[announcing price cuts](https://www.bloomberg.com/news/articles/2026-05-21/kroger-plans-biggest-price-cuts-in-years-to-take-on-walmart-costco)aimed at taking on[Walmart](https://robinhood.com/us/en/stocks/WMT/?source=sherwood)and[Costco](https://robinhood.com/us/en/stocks/COST/?source=sherwood), raising margin concerns.[Enhanced Group](https://robinhood.com/us/en/stocks/ENHA/?source=sherwood)plunged after the Enhanced Games produced[merely one record-breaking performance](https://sherwood.news/markets/enhanced-games-producer-plunges-after-merely-one-record-breaking-performance-with-several-clean-athletes-winning/), with several clean athletes winning events.[Dropbox](https://robinhood.com/us/en/stocks/DBX/?source=sherwood)dipped after its CEO[announced he's stepping down](https://www.cnbc.com/2026/05/26/dropbox-ceo-drew-houston-ashraf-alkarmi.html)after 19 years in charge of the cloud storage company.", "url": "https://wpnews.pro/news/stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally", "canonical_source": "https://sherwood.news/markets/market-wrap-2026-05-26-sp500-qqq/", "published_at": "2026-05-26 20:02:47+00:00", "updated_at": "2026-05-26 23:43:46.681807+00:00", "lang": "en", "topics": ["ai-chips"], "entities": ["S&P 500", "Nasdaq 100", "Russell 2000", "Donald Trump", "US Navy", "Micron", "UBS", "Sandisk"], "alternates": {"html": "https://wpnews.pro/news/stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally", "markdown": "https://wpnews.pro/news/stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally.md", "text": "https://wpnews.pro/news/stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally.txt", "jsonld": "https://wpnews.pro/news/stocks-climb-to-new-records-amid-peace-prospects-chip-stocks-rally.jsonld"}}