# Nasdaq and S&P 500 hit fresh record highs.

*genai · news · 2026-06-01 · Devdiscourse*

## Key points

- Nvidia unveiled a new AI chip, driving tech shares and record highs for Nasdaq and S&P 500.
- Iran has suspended indirect negotiations with the U.S., escalating geopolitical tensions.
- Rising crude prices sparked renewed inflation fears tied to the Iran conflict.
- May marked the fifth consecutive month of factory expansion according to new economic data.

Wall Street experienced moderate gains on Monday, driven by developments in technology and ongoing U.S.-Iran negotiations. Tech shares, buoyed by Nvidia's new AI chip unveiling, pushed the Nasdaq and S&P 500 to fresh record highs. Despite President Trump's assurance of continued talks, Iran has suspended indirect negotiations, leading to escalated tensions and rising crude prices. Concerns loom over potential inflationary pressures due to the prolonged conflict. Economic data highlighted factory expansion in May, marking a fifth month of growth. Investors' focus is shifting to the upcoming jobs report and the Federal Reserve's policy meeting amid inflation fears linked to the Iran conflict. (With inputs from agencies.)

**Companies:** Nvidia
**Countries:** United States, Iran

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/business/3928536-wall-street-edges-up-amid-tech-gains-and-us-iran-tensions)

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