U.S. stocks closed higher on May 29 as investors watched reports of possible Middle East de-escalation and a fresh wave of enthusiasm around AI-related spending, led by Dell’s stronger outlook.
U.S. stocks extended their rally on Thursday, May 29, as investors weighed reports of possible progress in Middle East tensions and fresh signs that AI-related spending remains strong.
Reuters reported earlier in the day that Wall Street futures were steady as traders awaited details on reported U.S.-Iran deal talks. Later in the session, Reuters said major indexes were extending their gains as technology shares strengthened.
Dell helped drive that move. The company said in its latest results that it raised guidance and cited unprecedented demand for its AI-optimized servers. AP reported that Dell rose sharply after the company lifted its outlook on strong AI computing demand.
By the close, AP said U.S. stocks finished higher, adding to recent records. The combination of easing geopolitical risk and renewed enthusiasm for AI capital spending gave the market a clear support case for the session.
The broader market still faces open questions. It is not yet clear whether the reported U.S.-Iran deal will be formally approved and implemented, or whether the ceasefire and Strait of Hormuz reopening details will be confirmed by the governments involved.
For now, the day’s trading showed how quickly stocks can respond to both geopolitical headlines and company guidance tied to AI infrastructure spending.
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