S&P 500 hits new all-time high as stocks rally on earnings, oil price pullback
U.S. stock markets reached record highs on May 5, 2026, with the S&P 500 climbing to 7,259.22 and the Nasdaq hitting 25,326.13. Oil prices fell sharply as traders responded positively to solid corporate earnings and easing Middle East tensions.
Markets Surge to New Records
U.S. stocks were higher on Tuesday, with the S&P 500 rising 0.81% to a new all-time high of 7,259.22, the Nasdaq Composite gaining 1.03% to 25,326.13, and the Dow Jones adding 356.35 points (0.73%) to 49,298.25. This extends a remarkable rally that has defied economic headwinds.
Energy Markets Cool
Crude prices declined across the board, giving equities a boost, with West Texas Intermediate crude futures dipping 3.9% to $102.27 per barrel and Brent crude futures losing 3.99% to close at $109.87.
Geopolitical Backdrop
The ceasefire between the U.S. and Iran remains fragile amid fresh attacks in the Strait of Hormuz. Despite ongoing tensions, stocks remain resilient, driven by strong corporate profits.