By Caitlin McCabe
Stock investors wrapped up the week in good spirits, pushing the Dow industrials to another record and giving the S&P 500 its eighth straight week of gains.
Bolstered by continued enthusiasm surrounding AI and other emerging tech, the S&P benchmark rose 0.4% Friday and 0.9% this week, clinching its longest weekly winning streak since December 2023. The Dow jumped 2.1% for the week and finished Friday at its ninth closing record of 2026.
Investors' optimism flowed despite an uncertain backdrop surrounding the Middle East conflict, with media reports about a potential deal between the U.S. and Iran sending oil prices and government bonds swinging in recent days. Brent crude futures climbed 0.9% to $103.54 a barrel on Friday, while the 10-year Treasury yield edged lower to 4.57%.
In Washington, Kevin Warsh was sworn in as the nation's top central banker. (You can watch the new Federal Reserve chair's full White House ceremony here, or catch highlights here.)
Meanwhile, traders are watching the yen, which has weakened to trade above 159 yen per dollar-not far from levels where Japanese authorities have previously intervened to defend the currency. Elsewhere in Japan, SoftBank Group's shares surged again, bringing its two-day gain to 34%, amid enthusiasm over its AI bets.
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(END) Dow Jones Newswires
May 22, 2026 17:00 ET (21:00 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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