Stocks close week with new records powered by tech gains and ceasefire optimism

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.

Stocks close week with new records powered by tech gains and ceasefire optimism The S&P 500 gained for the ninth-straight week, its longest winning run since 2023. The 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. Information 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/ . Aside from tech, financials was the only other sector to close in the green, while consumer staples fared the worst. Moving higher: 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 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. Moving lower: 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 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 .