Nasdaq surges 25% in two months to record high on tech rally

U.S. equity markets closed May 29 at or near record highs, led by a tech-fueled Nasdaq Composite that rose 0.21% to 26,972.62. The index posted its strongest two-month gain since 2002 after surging 25% in April and May. The S&P 500 advanced 0.22% to 7,580.07 while the Dow rose 0.72% to 51,032.34, both hitting fresh peaks. Dell’s 32.8% surge on blowout results and hopes for a U.S.-Iran ceasefire fueled risk appetite, though breadth remained narrow with most S&P 500 stocks declining.