U.S. stocks rose and the broad S&P 500 hit a record high as artificial-intelligence bets regained upward momentum and oil futures levelled off.
The Dow Jones Industrial Average rose 253.38 points, or 0.49%, to 51521.28. The S&P 500 gained 44.98 points, or 0.58%, to a new record high of 7818.93. It was the broad gauge's 28th record close in 2026 and the first since August, according to Dow Jones Market Data. The tech-heavy Nasdaq Composite added 122.48 points, or 0.45%, to 27599.79.
Oil futures rose a penny, or 0.01% to $89.44 a barrel in New York. While oil shipments through the Strait of Hormuz remain far below prewar levels, overall exports from the Middle East are rapidly recovering, The Wall Street Journal reported. The spike in fuel prices and its knock-on effects on inflation and interest rates had threatened to spoil the gains tied to AI investments in global markets this year.
The yield on the two-year Treasury declined 0.042 percentage point to 4.789%. The yield on the 10-year Treasury note fell 0.040 percentage point to 5.270%, retreating from a 24-year high. The yield on the 30-year bond ticked down 0.023 percentage point to 5.641%, finishing just off multiyear highs.
The U.S. dollar gave back some of its recent gains as fears about French budgetary issues receded, allowing the euro to stabilize.
Dollar-sensitive gold futures rose $30.80, or 0.75%, to $4159.20 a troy ounce.
One deal assuaged some concerns that a political backlash could slow AI infrastructure development.
Constellation Energy shares surged 12% to $300.40 after the independent power producer struck a supply deal with Alphabet's Google in which the tech giant agreed to fund the expansion of nuclear capacity on the PJM electric grid. The deal would squeeze more production out of existing reactors, but Constellation executives said it would be the equivalent to building a large reactor. One utilities analyst said large power producers are pursuing deals with "tier one hyperscalers" like Google rather than smaller data-center developers to avoid the risk of AI plans being scaled back.
"There's a sense that being aligned with those companies...adds an additional layer of caution," said Alex Kania, utilities analyst at brokerage BTIG.
Constellation rival Vistra rose 11% to $160.50 after the Energy Department confirmed it would give the nuclear-energy company a conditional loan commitment of up to $4.2 billion. Among other independent power producers, NRG rose 7% to $103.60.
DayOne Data Centers, an AI infrastructure firm backed by Japanese investment conglomerate SoftBank, is seeking to raise up to $5 billion in a U.S. initial public offering.
Merger-and-acquisition activity continued.
Uber Technologies agreed to buy catering platform EzCater for about $2.3 billion in cash, pushing its food-delivery business into a new niche.
Oil and natural-gas pipeline operator Energy Transfer agreed to buy Vaquero Midstream for about $2.63 billion in cash and stock.
Investment firm CD&R and drug wholesaler McKesson agreed to buy Option Care Health, a provider of infusions to patients at home, for about $5.8 billion including debt.
Becton Dickinson, a maker of medical technology and hospital supplies, struck a deal with the Trump administration to invest $19 billion in the U.S. in exchange for relief from future tariffs.
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