S&P500 and Nasdaq both hit record highs...driven by declining oil prices

On May 5, the S&P500 closed up 0.81% at 7,259.22, the Nasdaq at 25,326.13, and the Dow up 356 points to 49,298.34. The technology sector led the index gain with a rise exceeding 2%, while Russell 2000 and Nasdaq both set intraday record highs. Declining oil prices and expectations for peace negotiations with Iran were key catalysts.