S&P 500 Slips to 7,554 Ending Nine-Week Streak as Iran Tensions Lift Oil to $96

The S&P 500 pulled back to 7,553.68 on June 3 after reaching a record 7,617 on June 1, as renewed U.S.-Iran hostilities drove WTI crude above $96 and 10-year yields toward 4.5%. The index had climbed steadily from 7,445 on May 21, fueled by AI-driven rallies in Nvidia, Dell (up 33%) and software names, supported by ceasefire hopes that briefly eased energy prices. Sector rotation into energy is now offsetting tech weakness, leaving futures near 7,610 while investors weigh strong earnings momentum against persistent inflation risks from geopolitics.