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Wall Street indexes post closing record highs, AI rally pauses | Reuters

SUMMARY
Indexes up: Dow 0.36%, S&P 0.02%, Nasdaq up 0.07%
GlobalFoundries falls on report of Mubadala share sale
JPMorgan's expense guidance hits bank stocks
Zscaler plunges after downbeat Q4 forecast
Goldman Sachs lifts S&P 500 year-end forecast to 8,000

NEW YORK, May 27 (Reuters) - Rising healthcare and consumer stocks lifted the Dow Jones Industrial Average on Wednesday to a record closing high, while the S&P 500 and the Nasdaq were steady, as investors took ‌a pause from the AI-led rally while cautiously watching Middle East peace talks.
Fractional gains were enough to push the S&P 500 index and Nasdaq to closing record highs for the second day in a row.

Banking stocks were down as shares of JPMorgan Chase (JPM.N), opens new tab slid 2.4% after CEO Jamie Dimon warned that expenses this year could be $1 billion higher than estimated.

U.S. Secretary of State Marco Rubio said there has been some progress in negotiations with Iran toward a deal. Yet President Donald Trump said the U.S. and Iran still have issues to resolve and Iran's Fars News has said unresolved issues remain.

The Dow, which also hit closing highs ⁠on Friday and Thursday, was lifted by a rotation into healthcare and consumer stocks. Procter & Gamble (PG.N), opens new tab shares rose 3.2%. UnitedHealth (UNH.N), opens new tab climbed 1.9%.

A pullback in chip stocks weighed on the tech-heavy Nasda...

Among the sub-indexes, consumer discretionary (.SPLRCD), opens new tab was leading the gains, up 1.9%.

Meanwhile, the S&P 500 energy index (.SPNY), opens new tab fell 1.5%, tracking a decline of as much as 5% in oil prices. Tech shares (.SPLRCT), opens new tab dropped after reaching an all-time high on Tuesday.

Chip stocks were down after a strong rally. Intel (INTC.O), opens new tab fell ‌1.4% and Marvell ⁠Technology (MRVL.O), opens new tab dropped 4.6%, while Qualcomm (.QCOM), opens new tab fell 6% after sharp gains on Tuesday.
Chip giant Nvidia (NVDA.O), opens new tab weakened by 1% and the Philadelphia SE Semiconductor index (.SOX), opens new tab lost 1.4% after hitting a record high on Tuesday...

Zscaler (ZS.O), opens new tab tumbled 31.5% after the cloud security firm projected fourth-quarter revenue below expectations.
Among other movers,

GlobalFoundries (GFS.O), opens new tab fell 9.8% ⁠after Bloomberg News reported that majority owner Mubadala Investment Company was seeking to raise $1.91 billion from an unregistered block sale of GFS shares.

Bath & Body Works (BBWI.N), opens new tab jumped 9.7% after reporting first-quarter sales and profit above expectations, while Abercrombie & Fitch (ANF.N), opens new tab advanced on posting a strong quarterly profit.

Goldman Sachs raised its 2026 year-end forecast for the S&P 500 to 8,000 from 7,600, citing continued strength in corporate earnings.

Markets will next look ⁠toward the personal consumption expenditures index data on Thursday. The Federal Reserve's key inflation measure could provide fresh clues on the monetary policy path forward under new chair Kevin Warsh.

https://www.reuters.com/business/wall-st-futures-rise-ai-optimism-investors-optimistic-mideast-truce-2026-05-27/

US stocks hit fresh records, AI rally pauses
https://www.straitstimes.com/business/companies-markets/us-stocks-hit-fresh-records-ai-rally-pauses

Reuters

Wall Street indexes post closing record highs, AI rally pauses

Rising healthcare and consumer stocks lifted the Dow Jones Industrial Average on Wednesday to a record closing high, while the S&P 500 and the Nasdaq were steady, as investors took ‌a pause from the AI-led rally while cautiously watching Middle East peace…

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