Stock Market Rallies as Iran Tensions Ease
Major U.S. stock indexes climbed on May 5 as investors grew more confident about Iran tensions subsiding. The Russell 2000 and Nasdaq led the gains, while oil prices eased from elevated levels tied to Middle East conflict.
Market Performance
The S&P 500 was up 0.77%, buoyed by tech stocks pushing the Nasdaq into a one percent gain, with the Russell 2000 leading among major U.S. indexes at +1.39%.
Oil Price Relief
Oil prices were easing but remained elevated amid ongoing tensions in the Middle East, with West Texas Intermediate crude falling 2.22% to $104.10 per barrel and Brent crude declining 1.38% to $112.90 per barrel.
Corporate Earnings
Pfizer shares climbed 2.2% after the pharmaceutical giant beat Wall Street's first-quarter earnings and revenue forecasts and reaffirmed its 2026 outlook.