S&P 500 Hits New Record With First Close Above 7,400

The Nasdaq also continued its push into uncharted territory

Liliana Orozco

Assistant Editor

May 11, 2026 at 4:26 PM

SPX
MU
IXIC
DJI

Stocks edged higher Monday despite rising oil prices after President Trump rejected Iran's latest peace proposal. The S&P 500 closed above the psychologically significant 7,400 level for the first time ever, while the Nasdaq also notched a record close and the Dow finished firmly higher. Semiconductors remained a bright spot, led by Micron Technology (MU), which surged 6.5%.

Continue reading for more on today's market, including:

This outperforming biotech name hasn't cooled off yet.
DG stock pulled back to a historically bullish trendline.
Plus, behind LITE's rally; what's next for NXT; and a closer look at MU.

Closing Indexes Summary May 11

NYSE and Nasdaq Stats May 11

5 Things to Know Today

The latest updates between Iran and the U.S. after the rejected peace proposal (Reuters)
April home sales missed expectations as higher mortgage rates pressured homebuyers. (CNBC)
Nasdaq-100 inclusion pushed Lumentum stock to record highs.
Analysts lean bullish toward NXT stock ahead of earnings.
Has Micron stock climbed too far, too fast?

Corporate Earnings May 11

Unusual Options Activity May 11

Oil Prices Continue to Climb

Oil prices surged Monday after President Trump rejected Iran's counterproposal to end the conflict, calling it "totally unacceptable," warning it could further destabilize the already fragile ceasefire agreement. June-dated West Texas Intermediate (WTI) settled 2.8% higher at $98.07 per barrel.

Gold prices were muted today as investors digested U.S.-Iran updates. June-dated gold futures fell 0.04% to $4,718.70 per ounce. Meanwhile, silver futures surged to a two-month high.

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