On May 28, 2026, traders were busy at the New York Stock Exchange.
U.S. stock futures remained relatively stable on Tuesday night after all three major indexes reached record highs during the regular trading session.
The S&P 500 futures and Nasdaq 100 futures were trading close to neutral territories, while futures tied to the Dow Jones Industrial Average saw an approximate gain of 2 points.
On Tuesday evening, Kuwait’s military announced via social media that air defense systems were engaged in intercepting “hostile targets.” According to U.S. Central Command, the military reported having destroyed an Iranian ballistic missile and drone, also stating they had executed a “self-defense strike” on Qeshm Island following aggressive moves by Iran across the Middle East.
At the close of trading on Tuesday, major stock averages hit new milestones. The S&P 500 climbed 0.13%, surpassing 7,600 for the first time ever. The Dow Jones added 228.91 points, or 0.45%, while the Nasdaq Composite inched up by 0.03%.
If the S&P 500 finishes this week on a high note, it will mark its tenth consecutive week of gains, the longest streak since 1985, according to Megan Hsu, director of investment strategy at Wilmington Trust. She speculated that stocks might have a bit more room to grow as summer approaches.
“The momentum is quite remarkable,” she remarked during CNBC’s “Closing Bell” on Tuesday afternoon. “There’s considerable optimism, largely fueled by strong demand in the AI investment sector. However, we’re moving into a post-earnings period, which has been a positive driver for the market.” She also noted a potential summer slowdown, mentioning that trade activity might decrease and various geopolitical risks remain.
Hsu expressed, “I don’t foresee a sharp downturn, but it seems reasonable for the market to take a breather or possibly pull back slightly during the summer, leading to a touch more volatility.”
On another note, both Medtronic and Macy’s are set to report their earnings before the market opens on Wednesday. Economically, traders will be looking out for the ADP private employment report for May, due to be released in the morning, as well as the finalized data on durable goods and factory orders for April.
