Wall Street closed higher on Wednesday as investors assessed U.S.–Iran talks and reviewed Federal Reserve minutes that highlighted ongoing inflation concerns. The Nasdaq Composite, the S&P 500 and the Dow ended in positive territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) rose 1.3%, or 645.47 points, to close at 50,009.35. Twenty-two components of the 30-stock index ended in positive territory, while eight ended in negative territory.
The major gainer of the Dow was The Goldman Sachs Group, Inc. (GS – Free Report) . The stock price of this financial services company rose 5.8%. The Goldman Sachs currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The tech-heavy Nasdaq Composite advanced 1.6% to close at 26,270.36.
The S&P 500 gained 1.1% or 79.36 points, to end at 7,432.97. Out of 11 broad sectors of the broad-market index, eight ended in positive territory, and three ended in negative territory. The Information Technology Select Sector SPDR (XLK), Materials Select Sector SPDR (XLB) and the Consumer Discretionary Select Sector SPDR (XLY) rose 1.9%, 1.4% and 2.5%, respectively, while the Energy Select Sector SPDR (XLE) fell 2.6%.
The fear gauge, the CBOE Volatility Index (VIX), decreased 3.4% to 17.44. A total of 18.73 billion shares were traded on Wednesday, higher than the last 20-session average of 18.55 billion. The S&P 500 posted 19 new 52-week highs and 15 new lows, while the Nasdaq Composite recorded 220 new highs and 119 new lows.
U.S.-Iran Talks Continue
Iran continues communication with the United States through diplomatic channels, the Iranian foreign ministry said on Wednesday, according to a report by Reuters.
President Donald Trump said that Washington is ready to give Iran a few more days to respond to a proposed deal, saying negotiations were in the final stages. The talks are being closely monitored amid ongoing concerns over Iran’s nuclear program and regional tensions.
Fed Minutes Highlight Inflation Concerns
Minutes from the Federal Reserve’s April 28-29 meeting revealed that its officials are worried about rising inflation caused by higher energy costs and the global conflict. The Fed kept interest rates at 3.5%-3.75%. The central bank expects inflation to last longer and future decisions regarding interest rates to be based upon upcoming economic data, as well as labor market conditions.
Economic Data
For the week ending May 15, 2026, U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 7.9 million barrels from the week prior. The number for the previous week remained unrevised at a decrease of 4.3 million barrels.
