Tech Stocks Power S&P 500 and Nasdaq to Records

Surging technology stocks pushed the S&P 500 and the Nasdaq to fresh records, with the S&P 500 rallying into the close as investors rotated back into big-cap tech. The S&P 500 rose 0.8% to 7,022.95, finishing comfortably above its prior all-time high set in January. Gains were led by names such as Microsoft and Tesla, and markets were buoyed by increasing investor optimism that the U.S. and Iran may reach a peace deal that could reopen the Strait of Hormuz and ease energy-price concerns. The move marks a rebound in major indexes after a 53-trading-day interval between record highs driven earlier by AI worries and Middle East-related energy shocks.