By Caitlin McCabe

Investors around the world are in good spirits today, setting the S&P 500 on track to rise for its eighth straight week.

U.S. stocks are climbing, bolstered by continued enthusiasm surrounding AI, aerospace and other emerging tech. That is likely to send the S&P benchmark to its longest weekly winning streak since December 2023. Indexes in Asia and Europe also climbed.

Investors' optimism comes 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 to about $104 a barrel. The 10-year Treasury yield edged up to 4.58%.

In Washington, Kevin Warsh was sworn in as the nation's top central banker. You can watch the White House ceremony for the new Federal Reserve chair 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 14:06 ET (18:06 GMT)

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