Wall Street moved higher on Tuesday as investors reacted to signs of progress in negotiations over the Iran conflict, while technology stocks extended gains and easing bond yields provided additional support, AP reported.The S&P 500 rose 0.5 per cent after trading resumed following Monday’s holiday. The Dow Jones Industrial Average gained 53 points, or 0.1 per cent, while the Nasdaq Composite climbed 0.8 per cent in early trade. All three indexes were trading close to record highs.The gains followed comments from US President Donald Trump, who said negotiations with Iran were “proceeding nicely”, although fighting in the region continued.The US military said it had carried out “self-defense” strikes in southern Iran, including on missile launch sites and boats laying mines.Oil prices remained in focus after sharp volatility in recent sessions. Brent crude, the international benchmark, rose 3 per cent to $96.25 a barrel, recovering part of Monday’s 7.1 per cent decline. US crude, meanwhile, fell 3.8 per cent to $92.99 after trading resumed following the Memorial Day holiday.Oil prices have dominated global financial markets since the US and Israel launched strikes on Iran in late February. The conflict led to disruptions in shipping through the Strait of Hormuz, a route critical to global oil supplies.Hopes of easing tensions boosted shares of companies with large fuel costs. United Airlines rose 4.5 per cent, while cruise operator Carnival gained 3.7 per cent.Lower oil prices also pushed Treasury yields lower, helping reduce pressure across financial markets. The yield on the 10-year Treasury note declined to 4.48 per cent from 4.56 per cent on Friday.Technology stocks continued to support market gains amid optimism around artificial intelligence-driven demand.Micron Technology surged 11.2 per cent after UBS analysts led by Timothy Arcuri raised their 12-month price target on the stock to $1,625 from $535, making it one of the biggest contributors to gains in the S&P 500.The gains offset losses in some individual stocks. AutoZone dropped 8.2 per cent after reporting quarterly revenue that came in slightly below analysts’ expectations, although profit exceeded estimates. Chief executive Phil Daniele said the retailer’s Brazil and Mexico businesses had performed below expectations.Most large US companies have reported profit and revenue for early 2026 above analysts’ estimates, helping drive Wall Street to record levels despite uncertainty surrounding oil prices and the Iran conflict.Across global markets, trading was mixed. South Korea’s Kospi rose 2.5 per cent after reopening following a holiday, while London’s FTSE 100 gained 0.7 per cent.Shares of BP fell 4.7 per cent in London after the company removed its chairman over what it described as concerns regarding “important governance standards, oversight and conduct”.Japan’s Nikkei 225 slipped 0.2 per cent after hitting a record high in the previous session.
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