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, Nasdaq, Dow Jones today: Wall Street pushed higher Monday as investors continued pouring money into major technology stocks, even as rising tensions between the United States and Iran sent oil prices sharply upward.

S&P 500 and Nasdaq Composite Close at Record Highs Despite Iran Tensions

The S&P 500 edged up 0.19% to close at a record 7,412.84, while the tech-heavy Nasdaq Composite gained 0.1% to finish at an all-time high of 26,274.13. Both indexes touched fresh intraday records during the trading session, as per a report. The Dow Jones Industrial Average also climbed 95.31 points, ending the day at 49,704.47.

Markets appeared largely unfazed by growing uncertainty surrounding the Iran conflict. Iran reportedly sent a new proposal to US negotiators aimed at ending the war and lifting sanctions, as per CNBC. But US president Donald Trump rejected the response, calling it “TOTALLY UNACCEPTABLE!” in a Truth Social post.


Trump later warned that the month-old ceasefire between the US and Iran was now “on life support” and described it as “unbelievably weak,” as quoted by CNBC.

Oil Prices Surge After Trump Rejects Iran Proposal

Oil prices jumped following those developments. US West Texas Intermediate crude settled up 2.78% at $98.07 per barrel, while Brent crude rose 2.88% to close at $104.20.

Even with energy prices rising, investors continued focusing 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 powerful enough that many investors are “tuning out 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 continue, though those worries are being offset by what he described as an “unprecedented” technology boom.

Micron Technology and NVIDIA Lead AI Stock Rally

Chipmaker Micron Technology helped support the rally, with shares rising 6.5% as momentum in memory-chip stocks continued. AI giant NVIDIA also gained nearly 2%.

Copper Prices Hit Record High as Commodity Rally Continues

Meanwhile, copper prices climbed more than 2% to a record close of $6.4605, marking the metal’s highest finish ever and extending its gains for 2026 to more than 13%.

Citigroup Says Nasdaq 100 Remains Top AI Investment Play

Analysts at Citigroup said the Nasdaq 100 remains one of Wall Street’s preferred ways to invest in the artificial intelligence boom. Strategist Scott Chronert noted that while valuations remain high by historical standards, expected earnings growth tied to AI continues supporting investor optimism, as per the CNBC report.

FAQs

What did Donald Trump say about Iran’s proposal?
Donald Trump called the proposal “TOTALLY UNACCEPTABLE!”

Why did the stock market rise today?
Investors continued buying technology and AI-related stocks despite geopolitical tensions.