S&P 500, Nasdaq touch fresh peaks as oil retreats further
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FILE PHOTO: Futures-options traders work on the floor at the New York Stock Exchange's NYSE American (AMEX) in New York City, U.S., May 5, 2026. REUTERS/Brendan McDermid/ File Photo
May 7 (Reuters) - The S&P 500 and the Nasdaq touched record highs on Thursday as oil prices plunged further on hopes of a U.S.-Iran peace agreement that could potentially normalize crude supplies through the Strait of Hormuz.
At 09:30 a.m. ET, the Dow Jones Industrial Average rose 192.59 points, or 0.39%, to 50,091.92, the S&P 500 rose 6.38 points, or 0.09%, to 7,374.11 and the Nasdaq Composite rose 40.33 points, or 0.16%, to 25,879.28
(Reporting by Sruthi Shankar in Bengaluru; Editing by Shinjini Ganguli)
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