S&P 500 rises to fresh record, Micron leads Nvidia and chipmakers higher

The S&P 500 rose on Monday, bolstered by key tech stocks, even as oil prices rose after President Donald Trump rejected Iran’s latest proposal to end the war.

The broad market index gained 0.2%, as did the Nasdaq Composite. Both indexes had scored fresh all-time intraday highs during the session. The Dow Jones Industrial Average hovered around the flatline.

Iran sent a new proposal to U.S. negotiators, centered on ending the monthslong conflict. The counteroffer stressed the need to end the war on all fronts and to lift sanctions on Tehran, Iran’s semi-official Tasnim news agency said, citing an informed source.

Trump said in a Truth Social post Sunday that he did not like Iran’s response, adding that it was “TOTALLY UNACCEPTABLE!”

The month-old ceasefire between the U.S. and Iran is now “on life support,” according to Trump, who also told reporters Monday that it is “unbelievably weak.”

Oil futures were higher following those developments. U.S. West Texas Intermediate futures rose 2% to above $97 per barrel, while international benchmark Brent crude futures gained 2% to above $103 a barrel.