US Stock Market Hits Eight-Week Winning Streak as Investors Bet on Iran Peace Deal
US stock markets advanced Friday on hopes for a Middle East peace resolution and strong corporate earnings, with the S&P 500 securing its longest winning streak since December 2023 and the Dow reaching intraday record highs. Oil prices and Treasury yields fell amid the improved geopolitical outlook, supporting equities and corporate stock buybacks.
Markets Rally on Peace Talks Progress
US stocks advanced on Friday, buoyed by signs of progress in Middle East peace talks and a strong corporate earnings season. The S&P 500 gained 0.4%, extending its winning streak to eight consecutive weeks, the longest since December 2023, while the Dow Jones added 294 points to reach an intraday record high, marking its third positive week in four.
Energy and Treasury Market Relief
West Texas Intermediate futures shed 5.66% to close at $98.26 per barrel. Brent crude pulled back 5.63% to settle at $105.02 a barrel. Stocks jumped on Wednesday as oil prices and U.S. Treasury yields slid amid growing optimism that the conflict in the Middle East could soon be resolved.
Earnings Drive Index Gains
Traders also looked ahead to the release of Nvidia's first-quarter earnings report. US computer makers surged after strong results from China's Lenovo Group. Dell Technologies hit a record high and HP Inc. climbed over 15%. Estée Lauder rose 11.9% after the cosmetic maker and Spanish perfumery Puig ended merger talks, while Workday advanced 5.2% after beating first-quarter earnings estimates.
Nasdaq's Steady Advance
The Nasdaq rose 0.2%, securing its seventh weekly advance in eight weeks. The main stock market index of United States, the US500, rose to 7473 points on May 22, 2026, gaining 0.37% from the previous session.
Ceasefire Uncertainty Remains
Secretary of State Marco Rubio noted that the US had made some progress toward a deal with Iran, though more work remains, while Iran's foreign ministry spokesman stated that differences between the two sides remained deep.