Stock market today: Dow, S&P 500, Nasdaq cap winning month with fresh records in AI-fueled rally as Trump nears Iran decision

Since Trump signaled last week that the US is in the “final stages” of talks with Iran, markets have largely remained upbeat. The president’s statement late Friday afternoon that he would soon make a “final determination” on the deal added further fuel to the rally.

Markets are eager for relief on the US-Iran war front as the closure of the Strait of Hormuz exacerbates rapidly rising prices and drums up concerns about the Federal Reserve’s next moves on interest rates.

In corporates, Dell’s (DELL) results blew past investors’ expectations, lifting its stock as much as 40% higher. The company issued an upbeat outlook, indicating the rapid expansion of data centers amid the AI boom would continue to drive demand for its servers, which run on Nvidia (NVDA) chips.