04:30 PM EDT, 05/29/2026 (MT Newswires) -- US equity indexes jumped this week as technology topped sector charts amid expectations that the imminent Iran peace deal will reopen the Strait of Hormuz, the chokepoint for about a fifth of global crude oil flows.

* The S&P 500 closed at 7,580.06 on Friday versus 7,491.50 a week ago. The Nasdaq Composite stood at about 26,972.62, compared with 26,443.15 a week earlier. The Dow Jones Industrial Average ended at 51,032.46, versus 49,677.17 at the end of last week.

* Technology was up 5.4% while energy slumped 5.1% this week.

* Micron Technology's ( MU ) market capitalization crossed $1 trillion for the first time amid soaring demand for memory as artificial intelligence-related growth across the corporate landscape explodes. Its shares soared 27% this week.

* Dell Technologies ( DELL ) reported fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year. Shares surged 66% this week.

* US President Donald Trump said he is holding a meeting in the White House Situation Room to make a "final determination" after Washington and Tehran reached a tentative agreement this week to open the Strait of Hormuz and start nuclear talks, CNN reported late Friday.

* Core personal consumption expenditures, or PCE, price index, the Federal Reserve's preferred inflation gauge, grew by less than forecast in April, month over month. Annually, the Core PCE growth was in line with expectations.

* The 30-year Treasury yield stood at around 4.98% late Friday, extending its declines this week from mid-May when it touched the highest level since 2007.

* West Texas Intermediate crude oil futures dropped 1.1% to $87.97 a barrel late Friday, continuing its retreat from around $108 in mid-May.