12:04 PM EDT, 05/11/2026 (MT Newswires) -- US equity indexes traded mixed midday Monday, while crude oil futures rose, after President Donald Trump rejected Iran's response to his proposal to restart the peace process.

The Nasdaq rose 0.3% to 26,320.6 after touching a record 26,339.78 intraday. The S&P 500 climbed 0.3% to 7,421.2 after hitting an all-time high of 7,423.59 earlier in the session. The Dow Jones Industrial Average was steady at 49,655.5.

Energy was the standout gainer, followed by materials and technology. Communication services and consumer discretionary led the decliners.

Tech heavyweights Qualcomm ( QCOM ) , Micro Technology (MU), and Nvidia ( NVDA ) were among the top 10 gainers intraday in a category of stocks with a market capitalization of more than $200 billion, according to data compiled by Finviz.

The US and Iran remained far apart on a framework to end their war and reopen the Strait of Hormuz, with Trump calling the Islamic Republic's reply to his proposed peace plan unworkable, Bloomberg reported. Tehran demanded a lifting of the US naval blockade and sanctions relief, while maintaining a degree of control over traffic through Hormuz, a person familiar with the matter told Bloomberg.

West Texas Intermediate crude oil futures rose 2.3% to $97.62, and Brent crude futures increased 2.6% to $103.87.