S&P 500 and Nasdaq Close at Record Highs
The S&P 500 and Nasdaq closed at record highs on May 6, 2026, as oil prices declined. ADP reported private payrolls rose by 109,000 in April, exceeding expectations. Executives from AMD and Uber discussed demand for AI agents and long-term business strategy in quarterly updates.
benzinga.comU.S. stocks advanced on May 6, 2026, with the S&P 500 and Nasdaq closing at record highs while oil prices fell. The gains came as investors weighed fresh economic data and corporate commentary on artificial intelligence and business performance. Private payrolls rose by 109,000 in April, topping expectations, ADP said.
The data provided a snapshot of labor market conditions ahead of more comprehensive government employment figures scheduled for release later in the week. AMD CEO Lisa Su said agents are driving tremendous demand in the AI cycle. Her comments came during a discussion of recent business trends in artificial intelligence technology.
Uber CEO Dara Khosrowshahi addressed first-quarter results, stating the company is building for the long term. The remarks reflected a focus on sustained investment amid ongoing market developments. Separately, reports indicated the U.S. and Iran are closing in on a memo aimed at ending the war.
Details about the potential agreement remained limited in early trading hours.
The session marked another milestone for major equity indexes even as energy prices eased. Lower oil prices can reduce input costs for many businesses while affecting sectors tied to commodity production.
Technology and transportation companies provided insights into current operating environments. Discussions around AI-driven demand and multi-year planning underscored areas of emphasis for major firms.
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