Dow, S&P 500, Nasdaq rise as Trump nears decision on Iran truce

US stocks rose further as President Trump said he would soon make a decision on a deal with Iran, while Wall Street eyed Dell's  earnings report.

The Dow Jones Industrial Average  gained 0.6%, while the benchmark S&P 500  and tech-heavy Nasdaq Composite added 0.3% after the major indexes touched record highs amid confidence in the AI trade and hopes of easing global tensions.

Since Trump signaled last week that the US is in the “final stages” of talks with Iran, markets have largely been 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.

After the bell, Dell’s  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  chips.