'Risk appetite unchanged': US stocks continued record rally

Trading on Friday, Ma. 29, opened with growth of major U.S. indices on the background of investors' hopes for a peace agreement between the U.S. and Iran and expectations that spending on artificial intelligence will support further growth in corporate profits, Bloomberg writes.

The S&P 500 broad market index added 0.38% in early trading, the Dow Jones Industrial Average blue-chip index jumped 0.45%, while the Nasdaq Composite technology sector index rose 0.38%.

Oil prices fell, with Brent crude futures down 1.54% to $92.27 a barrel and West Texas Intermediate down 0.93% to $88.07 a barrel.

Excitement around AI continues to push stocks up, Bloomberg writes. Shares of PC and server assembler Dell Technologies soared more than 30% on May 29 after the company significantly raised its sales forecast. This was helped by strong demand for AI servers with Nvidia chips. The growth of Dell securities supported the quotations of other server assemblers - Hewlett Packard Enterprise and Super Micro Computer.

"Market participants' risk appetite remains unchanged as optimism about a possible resolution to the war with Iran continues to improve investor sentiment," noted Adam Turnquist, chief technical strategist at LPL Financial (as quoted by Bloomberg).

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