The stock market closed with a mixed tone, as the S&P 500 and Nasdaq Composite saw gains, while the Dow Jones slipped. The S&P 500 rose 0.61% to 7,519.12, the Nasdaq Composite gained 1.19% to 26,656.18, and the Dow Jones fell 0.23% to 50,461.68. The broad-based rally in the S&P 500 and Nasdaq was driven by strong performances in the technology sector, with Micron leading the charge. Micron's stock surged 20%, contributing significantly to the Nasdaq's gains. The tech sector's rally was also supported by gains in UnitedHealth and Rocket Lab. Meanwhile, the Dow's decline was influenced by a pullback in energy stocks, which were affected by ongoing tensions in the Middle East. The market's overall tone was risk-on, with investors taking advantage of the improved prospects for a peace deal between Iran and its regional rivals.

The headlines highlighted the significant role of the technology sector in today's market performance. Micron's impressive 20% gain was a key driver of the Nasdaq's rally, as the company's strong earnings and growth prospects continue to attract investor attention. The tech sector's performance was also bolstered by gains in UnitedHealth and Rocket Lab, which saw gains of 5% and 10% respectively. The market's risk-on tone was further supported by the improved prospects for a peace deal between Iran and its regional rivals, which eased concerns about potential disruptions to global supply chains. However, the Dow's pullback highlighted the continued volatility in the energy sector, with oil prices strengthening in response to fresh tensions in the Middle East. The market's performance was also influenced by the upcoming Memorial Day holiday, with investors closely monitoring the schedule for the stock market's closure. Overall, the market's mixed performance reflected a cautious but optimistic outlook, with investors balancing the risks and opportunities presented by the evolving geopolitical landscape.