S&P 500 Hits Record Close as Tech Rallies Amid Iran
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- S&P 500 closed at 7,412.84, up 0.19%, marking a fresh record close.
- Nasdaq Composite edged up 0.1% to 26,274.13, also ending at a record high.
- Oil futures rose sharply, with West Texas Intermediate up 2.78% to $98.07 per barrel and Brent crude up 2.88% to $104.20.
- President Trump called Iran's proposal "totally unacceptable" and the ceasefire "unbelievably weak" on Truth Social.
- Micron Technology shares jumped 6.5%, supporting the market rally.
- Nvidia rose nearly 2%, adding to the tech sector's strength.
- Copper closed at a record $6.4605, up over 2% and more than 13% YTD.
Why it matters: Investors benefited from the tech sector's surge, which offset rising energy costs and helped the S&P 500 close at a record despite geopolitical tension; meanwhile, higher oil and copper prices signal inflationary pressure that could bite consumers and energy‑intensive firms.
