Core Data & Closing Levels (Friday, May 22, 2026):
- The Dow Record: The Dow Jones surged 369.12 points (+0.73%) to a record 50,654.78—its first all-time high since the conflict began in late February.
- S&P 500 & Nasdaq: The S&P 500 rose 0.58% to 7,489.09 (its 8th straight weekly gain), while the Nasdaq added 0.63% to 26,457.65.
- Yields Dip: The benchmark 10-year Treasury yield eased 3.4 bps to 4.552%, backing down from multi-month highs.
Commodities, Forex & Macro Data:
- Oil Rebound: Brent crude rose 1.48% to $104.08/bbl, and WTI U.S. crude gained 1.34% to $97.64/bbl (though both logged weekly losses).
- Forex & Gold: The U.S. Dollar Index edged up to 99.32 (near a 6-week high). The Euro fell to $1.16, the Yen weakened to 159.12, and Spot Gold slid 0.6% to $4,514.12/oz.
- Sentiment Low: The U.S. Consumer Sentiment Index plunged to a record low in May, crushed by soaring gasoline prices.
Key Drivers:
- US-Iran Peace Talks: Markets rallied on diplomatic progress to end the U.S.-Israeli war with Iran, though sticking points remain over enriched uranium and control of the Strait of Hormuz.
- Turkey Rebound: Istanbul’s BIST 100 index jumped 4.5%, recovering from a 6% crash on Thursday triggered by court moves against opposition leader Ozgur Ozel.