04:31 PM EDT, 05/08/2026 (MT Newswires) -- US equity indexes rose this week as quarterly earnings showed the benign effect of artificial intelligence on corporate results, sending the S&P 500 and the Nasdaq Composite to new highs amid a fragile ceasefire.

* The S&P 500 closed at 7,398.93 on Friday versus 7,230.12 a week ago. The Nasdaq Composite stood at about 26,247.07, compared with 25,114.44 a week earlier. The Dow Jones Industrial Average ended at 49,609.16, versus 49,499.27 at the end of last week.

* Technology, consumer cyclicals, and communication services were among the top five sectors. Energy led the decliners.

* In a category of stocks with a market capitalization of more than $200 billion, firms with the heaviest of weights and sway in indexes, all but one were semiconductor companies with a weekly gain of at least 11%, according to data compiled by Finviz. The lone exception was Oracle (ORCL), up 14%.

* "It's crystal clear to us that the AI Revolution is accelerating at a warp speed pace with 2026 being an inflection point year for AI with hyperscalers now investing over $700 billion in capex in FY26 to capitalize on the opportunities in the space," Daniel Ives, global head of technology at Wedbush Securities, said in a note Thursday.

* In the same category of mega-caps, the five worst performers included Shell (SHEL), Exxon (XOM), and Chevron ( CVX ) , down at least 5% each.

* The US expects a response on Friday from Iran on a proposal to end the war, Secretary of State Marco Rubio said, adding he hopes "it's a serious offer," CNN reported.

* According to President Donald Trump, the Iran ceasefire remains in effect, after US forces disabled two Iranian-flagged unladen oil tankers on Friday that were attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade. Iran has created a government agency to vet and tax vessels seeking passage through the Strait of Hormuz, an Associated Press report cited a shipping data company Thursday.