# The S&P 500 closed above the mark of 7,350 for the first time.

*business · news · 2026-05-06 · CNBC TV18*

## Key points

- The S&P 500 closed above 7,350 for the first time, hitting a record high.
- Axios reported the US and Iran are nearing a one-page memo to end the war.
- The Philadelphia Semiconductor Index closed at record highs, reflecting strong performance in semiconductors.
- Gold and silver surged 3% and 6% while crude oil prices tumbled 7% after the news.
- Bank of America clients bought $6.8 billion in US equities last week, signaling increased investor optimism.

**Companies:** Bank of America, Shell, McDonalds, Airbnb
**Countries:** United States, Iran

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/dow-jones-snp-500-nasdaq-us-market-record-high-tech-rally-us-iran-deal-oil-fall-gold-silver-ws-e-19900490.htm)

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