Equity Alert
US mkt ends up Fri; S&P 500's rising streak longest since 2023
This story was originally published at 08:01 IST on 1 June 2026
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Equity Alert: US mkt ends up Fri; S&P 500's rising streak longest since 2023
MUMBAI--0746 IST--Benchmark indices in the US ended the month of May on a positive note Friday as an ease in the crude oil prices and hopes of progress toward a peaceful resolution to the West Asia war provided the support. Information technology stocks lifted all the three major US indices to end with modest gains. On other hand, benchmark US treasury yields dipped for a fourth straight session Friday.
The S&P 500 index ended higher for the seventh consecutive session, marking its longest winning streak since December 2023. Despite the gains, the three indices came off intraday highs by the closing bell. The tech-heavy Nasdaq Composite index closed 0.2% higher, gaining more than 8% over the month. The Dow Jones Industrial Average rose 0.7% but gained just 3% in May.
The US and Iran agreed to extend their ceasefire and lift shipping restrictions as peace negotiations proceed, Reuters reported, citing sources. However, US President Donald Trump is yet to approve the deal which, according to Iranian state media, has not yet been finalised, the report said.
Trump said he would meet in the situation room "to make a final determination" and reiterated that Iran "must agree that they will never have a Nuclear Weapon," CNBC reported. He also called for the Strait of Hormuz to be "immediately open," the report said.
US Federal Reserve officials are now mulling the possibility of hiking interest rates to counter that growing risk of rising inflation. "The three-month-long conflict has put upward price pressure on inflation, which threatens to grow less transitory and more established the longer the war drags on," Reuters said.
Following were the closing levels of major US indices on Friday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
51032.46 | 0.72 |
|
NASDAQ Composite |
26972.62 | 0.20 |
|
S&P 500 |
7580.06 | 0.22 |
(Simran Rede)
US$1 = INR 95.00
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Akul Nishant Akhoury
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