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Stock Market Extends Winning Streak as Oil, Bond Yields Retreat

The S&P 500 advanced for an eighth consecutive week, narrowing to within 0.4% of its May 14 record close of 7,501. The index's longest winning streak since late 2023 faced headwinds early in the week when crude oil traded above $100 a barrel and 30-year Treasury yields hit their highest level since 2007. A three-session losing streak that began May 15 threatened market momentum. The rally resumed Wednesday as oil prices and bond yields retreated, triggering gains that carried through the week's close. President Trump announced the U.S. reached the "final stages" of peace talks with Iran, bolstering investor confidence. Nvidia reported a beat-and-raise well above analyst forecasts. Cybersecurity stocks rebounded. The Dow Jones Industrial Average closed the week at a record high.