Stock market today: Dow, S&P 500, Nasdaq post record highs as oil prices drop

May 28, 2026 - 04:22

Wall Street closed at fresh all-time highs on Monday, with the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all posting record finishes. The rally was fueled by a sharp drop in oil prices, which eased concerns about persistent inflation and gave a broad lift to investor sentiment.

Crude oil futures fell more than 3% after reports suggested progress in indirect talks between the United States and Iran. A potential deal could lift sanctions on Iranian oil exports, adding more supply to global markets. Lower energy costs are seen as a positive for consumer spending and corporate margins, two key drivers of the current bull market.

The Dow gained over 200 points, while the S&P 500 and Nasdaq each rose roughly 0.6%. Technology and consumer discretionary stocks led the gains, with major names like Apple and Amazon climbing. Energy stocks, however, lagged as the drop in crude weighed on sector profits.

Trading volume was slightly below average as many investors remained cautious ahead of key inflation data due later this week. The Federal Reserve's next policy decision will also be closely watched, but for now, the combination of falling fuel prices and steady economic growth has pushed indexes into uncharted territory. Analysts noted that while the rally is broad, it remains dependent on continued progress in both trade and energy diplomacy.