The stock market closed higher today, with the Dow Jones, S&P 500, and Nasdaq Composite all posting gains. The Dow climbed 294.04 points to 50,579.70, the S&P 500 rose 27.75 points to 7,473.47, and the Nasdaq Composite added 50.87 points to 26,343.97. The moves were broad, with all three major indices advancing, reflecting a risk-on tone as investors digested a potential US-Iran peace deal and the strong earnings season. The S&P 500 notched its eighth consecutive week of gains, the longest weekly winning streak since 2023, while the Dow set a new record high.

The overall tone was positive, with headlines highlighting the resilience of the markets amid geopolitical uncertainty and the momentum from strong corporate earnings. Futures rose, and five AI stocks flashed buy signals, suggesting optimism in the technology sector. However, markets were also eyeing Nvidia's earnings, which could provide further insights into the tech sector's performance. The Memorial Day holiday weekend is approaching, with markets set to close early on Monday, May 26th, and reopen on Tuesday, May 28th. Investors are also being advised to consider reallocating from growth to value stocks, as suggested by Morningstar Canada.