04:18 PM EDT, 05/29/2026 (MT Newswires) -- US equity indexes hit record highs on Friday ahead of President Donald Trump's decision on Iran's preliminary peace proposal.

* 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 Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg.

* July West Texas Intermediate crude oil fell $0.95 to settle at $87.95 per barrel, while July Brent crude, the global benchmark, was last seen down $1.72 at $91.99.

* Dell Technologies ( DELL ) shares were up roughly 33%, the top gainer on the S&P 500, after the company reported fiscal Q1 results late Thursday that topped estimates and issued higher-than-expected guidance for fiscal Q2 and the full year. Multiple analysts also upgraded the stock and raised their price targets for Dell.

* Clorox (CLX) shares were down about 6.4%, the steepest decline on the S&P 500, after the company said late Thursday that Chief Executive Officer Linda Rendle has asked the board to initiate a CEO search process as she has decided to step down for health reasons.