02:57 PM EDT, 05/29/2026 (MT Newswires) -- US equity indexes hit all-time highs as technology shares surged ahead of President Donald Trump's decision on Friday on a preliminary Iran peace agreement.

The Nasdaq Composite climbed 0.2% to 26,970.1, with the S&P 500 up 0.3% to 7,583.1, and the Dow Jones Industrial Average higher by 0.7% to 51,030.2 ahead of Friday's close.

Dell Technologies ( DELL ) shares catapulted 30%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

President Donald Trump said Friday on Truth Social that he is meeting now in the Situation Room to make a final determination on the memorandum of understanding between the US and Iran.

The ceasefire would need to include reopening the Strait of Hormuz and dismantling Tehran's capacity to make a nuclear weapon, the president has said previously.

Iranian officials have used the talks to project confidence that they retain significant military options should diplomacy fail, CNN reported Friday. Any renewed conflict would spread "far beyond the region," threatening "crushing blows" and "utter ruin" in places opponents "cannot even imagine," the Iranian Revolutionary Guards were cited as saying.

Brent crude futures fell 1.8% to $91.99, and West Texas Intermediate crude oil futures declined 2% to $87.11, both trading close to their respective session lows.