{"slug": "stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism", "title": "Stocks close week with new records powered by tech gains and ceasefire optimism", "summary": "The S&P 500 and Nasdaq 100 closed at record highs Friday, capping the S&P 500's ninth straight week of gains — its longest winning streak since 2023. Tech stocks led the rally after Snowflake's strong earnings eased AI investment fears, while President Trump said he is meeting with advisers to make a \"final determination\" on a peace deal with Iran.", "body_md": "# Stocks close week with new records powered by tech gains and ceasefire optimism\n\nThe S&P 500 gained for the ninth-straight week, its longest winning run since 2023.\n\nThe S&P 500 and Nasdaq 100 set new record closing highs, while the Russell 2000 dipped. This morning, President Trump posted on Truth Social that he’s meeting with advisers in the Situation Room to make a “[final determination](https://truthsocial.com/@realDonaldTrump/posts/116658423998920803)” on a peace deal with Iran.\n\nInformation technology was the best-performing sector as [Snowflake’s](https://robinhood.com/us/en/stocks/SNOW/?source=sherwood) earnings eased investor fears of an AI-induced SaaSpocalypse, lifting the entire software sector, with [Salesforce](https://robinhood.com/us/en/stocks/CRM/?source=sherwood), [Microsoft](https://robinhood.com/us/en/stocks/MSFT/?source=sherwood), [Palantir](https://robinhood.com/us/en/stocks/PLTR/?source=sherwood), [CrowdStrike](https://robinhood.com/us/en/stocks/CRWD/?source=sherwood), [ServiceNow](https://robinhood.com/us/en/stocks/NOW/?source=sherwood), [Atlassian](https://robinhood.com/us/en/stocks/TEAM/?source=sherwood), [Figma](https://robinhood.com/us/en/stocks/FIG/?source=sherwood), [Zscaler](https://robinhood.com/us/en/stocks/ZS/?source=sherwood), [Microsoft](https://robinhood.com/us/en/stocks/MSFT/?source=sherwood), and [Intuit](https://robinhood.com/us/en/stocks/INTU/?source=sherwood)** **[climbing](https://sherwood.news/markets/okta-soars-on-q1-earnings-beat-raised-outlook-driven-by-ai-security-demand/).\n\nAside from tech, financials was the only other sector to close in the green, while consumer staples fared the worst.\n\n**Moving higher:**\n\n[Dell](https://robinhood.com/us/en/stocks/DELL/?source=sherwood)soared after delivering[blowout quarterly results and boosting full-year guidance](https://sherwood.news/markets/dell-q1-2027-earnings-ai-boom-servers/?utm_source=robinhood)after the bell yesterday, driven by surging AI server demand.Dell's strong Q1 beat on AI server demand lifted the broader server hardware space, with\n\n[HP Enterprise](https://robinhood.com/us/en/stocks/HPE/?source=sherwood)and[Super Micro Computer](https://robinhood.com/us/en/stocks/SMCI/?source=sherwood)[surging on the news](https://sherwood.news/markets/hpe-smci-stocks-surge-dells-q1-beat-strong-ai-server-demand/).[Ford](https://robinhood.com/us/en/stocks/F/?source=sherwood)rallied after Bank of America hiked its price target to $20 from $17.[Micron](https://robinhood.com/us/en/stocks/MU/?source=sherwood)and[Sandisk](https://robinhood.com/us/en/stocks/SNDK/?source=sherwood)rose on[new Street-high price targets from Susquehanna](https://sherwood.news/markets/micron-and-sandisk-rally-on-new-street-high-price-targets-from-susquehanna/).[Okta](https://robinhood.com/us/en/stocks/OKTA/?source=sherwood)soared on a[Q1 earnings beat and raised outlook](https://sherwood.news/markets/okta-soars-on-q1-earnings-beat-raised-outlook-driven-by-ai-security-demand/)driven by AI security demand.[SoFi Technologies](https://robinhood.com/us/en/stocks/SOFI/?source=sherwood)continued to surge following the[launch of its stablecoin to 15 million customers](https://sherwood.news/crypto/sofi-continues-to-surge-following-launch-of-its-stablecoin-to-15-million-customers/?utm_source=robinhood).[BlackBerry](https://robinhood.com/us/en/stocks/BB/?source=sherwood)climbed, extending what is[one of its hottest rallies of all time](https://sherwood.news/markets/blackberry-is-on-one-of-its-hottest-rallies-of-all-time/).[Nextpower](https://robinhood.com/us/en/stocks/NXT/?source=sherwood)climbed on news it will[acquire battery energy storage provider Prevalon Energy](https://investors.nextracker.com/news/news-details/2026/Nextpower-Announces-Entry-into-Battery-Energy-Storage-BESS-and-AI-Data-Center-Markets-with-Definitive-Agreement-to-Acquire-Prevalon-Energy-Increases-Fiscal-Year-2027-Outlook/default.aspx), along with price target hikes from Jefferies and other analysts.\n\n**Moving lower:**\n\n[AST SpaceMobile](https://robinhood.com/us/en/stocks/ASTS/?source=sherwood)plummeted after a[Blue Origin rocket explosion](https://sherwood.news/markets/ast-spacemobile-plummets-after-blue-origin-rocket-explosion/?utm_source=robinhood).[Gap](https://robinhood.com/us/en/stocks/GAP/?source=sherwood)sank after[cutting its annual sales forecast and missing on earnings](https://www.reuters.com/business/retail-consumer/gap-cuts-annual-sales-forecast-pressured-discretionary-spending-2026-05-28/).[Costco](https://robinhood.com/us/en/stocks/COST/?source=sherwood)shares fell following company’s[mixed fiscal third-quarter earnings report](https://sherwood.news/markets/costco-misses-out-on-the-retailer-rally-after-mixed-q3-report/). The retailer managed to outperform Wall Street estimates on earnings per share and membership fees, but missed on revenue overall as budget-conscious coCryptocurrency\n\n[sui](https://robinhood.com/us/en/crypto/SUI/?source=sherwood)fell as the blockchain[halted transactions for the second day in a row](https://sherwood.news/crypto/sui-blockchain-halts-transactions-for-second-day-in-a-row/?utm_source=robinhood).", "url": "https://wpnews.pro/news/stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism", "canonical_source": "https://sherwood.news/markets/market-wrap-2026-05-29-sp500-qqq/", "published_at": "2026-05-29 20:05:09+00:00", "updated_at": "2026-05-29 20:25:21.433925+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-products", "ai-startups"], "entities": ["Snowflake", "Salesforce", "Microsoft", "Palantir", "CrowdStrike", "ServiceNow", "Atlassian", "Zscaler"], "alternates": {"html": "https://wpnews.pro/news/stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism", "markdown": "https://wpnews.pro/news/stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism.md", "text": "https://wpnews.pro/news/stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism.txt", "jsonld": "https://wpnews.pro/news/stocks-close-week-with-new-records-powered-by-tech-gains-and-ceasefire-optimism.jsonld"}}