# The S&P 500 advanced 0.5% to a record 7,557.85, while the Dow Jones Industrial Average added 32 points, or 0.1%, to 50,676.

*genai, business · news · 2026-05-28 · Benzinga*

## Key points

- Washington and Tehran agreed to a 60-day ceasefire extension and phased Strait of Hormuz tanker traffic resumption.
- Headline PCE inflation accelerated to 3.8%, the highest since early 2023, with mixed spending data.
- St. Louis Fed President stated rate hikes remain possible if inflation doesn't return to target.
- Snowflake saw an 'inflection' quarter driven by increased AI-cloud orders, signaling accelerated sector growth.
- Dollar Tree and Agilent Technologies shares each soared 17% after beating earnings estimates and raising guidance.

U.S. stocks hit record highs Thursday after reports that Washington and Tehran agreed to a 60-day ceasefire extension and phased resumption of Strait of Hormuz tanker traffic. The S&P 500 advanced 0.5% to a record 7,557.85, while the Dow Jones Industrial Average added 32 points, or 0.1%, to 50,676. The small-cap Russell 2000 rallied 0.6% to 2,937, the strongest performance among major U.S. benchmarks. April PCE Report Delivered Mixed Read For Fed Headline Personal Consumption Expenditure (PCE) inflation accelerated to 3.8% year-over-year – the hottest since early 2023 – with the monthly print up 0.4%, but core PCE rose just 0.2% on the month and 3.3% year-over-year, broadly in line with estimates. Real personal spending grew just 0.1%, personal income was essentially flat, and first-quarter GDP was revised lower by 0.4 percentage points to 1.6% on softer investment, painting a picture of a consumer that is no longer outrunning prices. The mixed macro print did little to soften the Fed’s hawkish chorus. St. Louis Fed President Alberto Musalem said rate hikes remain on the table if price pressures fail to converge back to the 2% target, echoing similar warnings from Fed Vice Chair Philip Jefferson and Minneapolis Fed President Neel Kashkari. Thursday’s Performance In Major US Indices According to the Benzinga Pro platform: AI Software Spending Spree Lights Up Records Board Wall Street analysts flagged an “inflection” quarter for Snowflake, on the back of rising AI-cloud orders. Dollar Tree Inc. (NASDAQ:DLTR) climbed 17% after Q1 adjusted EPS of $1.74 beat the $1.55 consensus and the discounter lifted FY2026 adjusted EPS guidance to $6.70-$7.10. Life-sciences leader Agilent Technologies Inc. (NYSE:A) jumped 17% after fiscal Q2 revenue of $1.83 billion and non-GAAP EPS of $1.49 beat estimates, with management raising the guidance on revenue. On the downside, Everpure Inc. (NYSE:P) tumbled 12% as the data storage firm’s beat-and-raise was overshadowed by Q2 revenue guidance of $553 million, well below Wall Street’s projections. Salesforce Inc. (NYSE:CRM) dipped roughly 2% after the company beat on sales and EPS but offered Q2 revenue guidance slightly below consensus. Thursday’s Russell 1000 Top Gainers Thursday’s Russell 1000 Top Losers

**Companies:** Salesforce Inc., Dollar Tree Inc., Agilent Technologies Inc., Everpure Inc.
**Countries:** United States, Iran

[Read the full story on Benzinga](https://www.benzinga.com/markets/equities/26/05/52848870/sp-500-nasdaq-records-us-iran-truce-snowflake-surge-markets-thursday)

---

Canonical: https://newsio.io/n/9ee80f5f-6077-43a1-92ba-50e317a59606/the-sp-500-advanced-0-5-to-a-record-7557-85-while-the-dow-jones-industrial-avera
Summarized by Newsio from Benzinga. https://newsio.io/how-it-works