S&P 500 Nasdaq Dow Jones today May 11 analysis: S&P 500, Nasdaq hit record highs and Dow Jones rises despite soaring oil prices and Trump warning Iran’s ceasefire is ‘on life support’ – here’s how US stock market performed on May 11
S&P 500 and Nasdaq Composite Close at Record Levels Despite Iran Tensions
The S&P 500 index rose 0.19% to reach a record of 7,412.84 points, while the tech-heavy Nasdaq Composite increased 0.1% to close at 26,274.13, its all-time high. According to a report, both indices touched new intraday records during the trading session. The Dow Jones Industrial Average also increased by 95.31 points and finished the day at 49,704.47 points.
Markets appeared largely unaffected by the growing uncertainty surrounding the Iran conflict. Iran has reportedly sent a new proposal to US negotiators aimed at ending the war and lifting sanctions, according to CNBC. However, US President Donald Trump rejected this response, saying “TOTALLY UNACCEPTABLE”. In a Truth Social post.
Trump later warned that the month-long ceasefire between the United States and Iran was now “on life support,” calling it “incredibly weak,” CNBC reported.
Oil prices rise after Trump rejects Iran offer
Following these developments, oil prices started to rise. While US West Texas Intermediate crude oil was traded at $98.07 per barrel, up 2.78%, Brent crude oil closed at $104.20, up 2.88%.
Even as energy prices rose, investors continued to focus on the strength of the technology sector, especially companies tied to artificial intelligence.
Jay Hatfield, founder and CEO of Infrastructure Capital Advisors, said the tech rally has become strong enough that many investors are “ignoring the Middle East,” as quoted by CNBC. He added that the market could remain relatively flat in the coming months as concerns over the Iran conflict persist, but those concerns are offset by an “unprecedented” tech boom.
Micron Technology and NVIDIA Lead AI Stock Rally
Chipmaker Micron Technology helped fuel the rally, with shares rising 6.5% as momentum in memory chip stocks continued. Artificial intelligence giant NVIDIA also gained nearly 2%.
Copper Prices Rise to Record as Commodity Rally Continues
Meanwhile, copper prices rose more than 2% to a record close of $6.4605, the metal’s highest close ever and pushing 2026 gains to more than 13%.
Nasdaq 100 Remains Top AI Investment, Citigroup Says
Analysts at Citigroup said the Nasdaq 100 remains one of Wall Street’s preferred ways to invest in the AI boom. While valuations remain high by historical standards, expected earnings growth driven by artificial intelligence continues to support investor optimism, strategist Scott Chronert said in a CNBC report.
FAQ
What did Donald Trump say about Iran’s offer?
Donald Trump called the proposal “TOTALLY UNACCEPTABLE.”
Why did the stock market rise today?
Investors continued to buy technology and artificial intelligence-related stocks despite geopolitical tensions.
