Wall Street Rises on Middle East Peace Optimism and Corporate Earnings
The U.S. stock market rallied on Friday (May 22), boosted by signs of progress in Middle East peace talks and a strong corporate earnings season.
The S&P 500 rose 0.4%, extending its weekly winning streak to eight straight weeks, its highest since December 2023.
The Dow Jones Industrial Average added 294 points to an all-time intraday high, marking its third positive week in four.
The Nasdaq Composite added 0.2%, securing its seventh weekly gain in eight weeks.
Diplomacy and Geopolitics Highlights:
U.S. Secretary of State Marco Rubio said progress was being made toward a deal with Iran, but more work remains.
An Iranian Foreign Ministry spokesman stated that the differences between the two sides remain fundamental.
Corporate Performance:
U.S. computer manufacturers surged after positive results from Lenovo Group in China.
Dell Technologies hit a record high, while HP Inc. rose more than 15%.
Estée Lauder rose 11.9% after ending merger talks with Spanish perfumer Puig.
Workday rose 5.2% after beating first-quarter earnings estimates.
Markets remain sensitive to geopolitical developments in the Middle East, with investors weighing diplomatic progress against potential risks to global energy and inflation.
Source: Newsmaker.id
