S&P 500 closed at 7,412.49, crossing 7,400 for the first time, while Nasdaq hit record 26,274.13 and Dow 49,704.34.
Gains were limited as investors remained cautious after a fresh US‑Iran diplomatic setback and awaited April CPI and PPI data.
Oil prices surged 3% to $104.28 Brent and $98.30 WTI, boosting inflation expectations; chip stocks Qualcomm (+2.23%) and Micron (+6.5%) led gains.
Analysts noted mixed market breadth and see upside toward a 7,700 year‑end target despite geopolitical risks and high cash levels.