U.S. stock indexes closed at all-time highs on Friday, May 29, 2026, as optimism around a potential U.S.-Iran deal, strong tech earnings, and artificial intelligence (AI) momentum pushed the S&P 500 to a new record close near 7,592, even as consumer sentiment fell to its lowest level ever recorded. Wall Street is feeling it while Main Street is certainly not.
Key Takeaways:
The S&P 500 closed at a record 7,592 on May 29, extending its winning streak to nine straight weeks.University of Michigan consumer sentiment hit a record low of 44.8 in May, with 57% of consumers citing high prices. Bitcoin held near $73,500 as CME launched 24/7 crypto futures trading and gold rebounded to $4,545/oz.“Iran must agree that they will never have a Nuclear Weapon or Bomb,” Trump wrote. “The Hormuz Strait must be immediately open, no tolls, for unrestricted shipping traffic, in both directions.”
Trump’s post described the lifting of a naval blockade and outlined a joint operation between the U.S., China, Iran, and the International Atomic Energy Agency to remove buried nuclear material. “Say HELLO to your wives, husbands, parents, and families from me, your favorite President,” Trump wrote, addressing sailors held in the Strait.
Dell Technologies contributed to the tech-driven rally after reporting strong AI server sales, adding weight to the broader AI earnings narrative that has defined much of 2026’s market performance.
U.S. Households Don’t Feel Wall Street’s Gains; 57% of Americans Say Prices Are Crushing Them
