U.S. markets extend record run as Macy’s rises and AI oversight expands

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Highlights

S&P 500 closes above 7,600 for the first time with a sixth consecutive record, while Dow secures a fifth straight record high session.
Hewlett Packard Enterprise surges 19% and Marvell rises 32% after management commentary and Nvidia CEO Jensen Huang's bullish remarks.
Trump signs executive order mandating government access to AI models before public release, expanding oversight amid rapid sector growth.

Record highs, retail gains and crypto pressure

As reported by CNBC, the S&P 500 closes at an all-time high for a sixth straight day, finishing above 7,600 for the first time, while the Dow posts record highs and secures a fifth consecutive winning session. The latest gains come as investors weigh strength in selected technology and retail names against renewed volatility in crypto-linked assets and exchange operators.

Hewlett Packard Enterprise shares jump 19%, marking their best day on record, after Chief Executive Antonio Neri says the company has the strongest portfolio it has ever had. Marvell rises 32% for its biggest one-day gain ever after Nvidia Chief Executive Jensen Huang says it could become the next trillion-dollar company.

By contrast, CME Group and Cboe Global Markets head toward their worst weeks since 2020 as exchange stocks sell off after bitcoin perpetual futures receive regulatory approval. Bitcoin also falls below $70,000, adding pressure to companies tied to the cryptocurrency market.

Macy’s shares gain nearly 3% in premarket trading after the retailer reports its strongest first-quarter comparable sales performance in four years. Chief Executive Tony Spring says better-than-expected sales and profitability support a higher full-year forecast, offering a positive sign for the department store chain’s turnaround plan centered on closing weaker locations and investing more heavily in stores it keeps open.

Washington policy moves shape market outlook

Markets are also following policy developments that could affect geopolitics, national security and the technology sector. President Donald Trump says in a podcast interview released Wednesday that Iran has already agreed not to have nuclear weapons, though he adds that its position could still change, and says it is unlikely that the U.S. blockade of Iranian ports remains in place by Labor Day.

The comments come after Iranian media reports that negotiators stopped exchanging messages with U.S. counterparts several days earlier. Trump rejects those reports as false, while Secretary of State Marco Rubio says in congressional testimony that talks are ongoing.

Separately, Trump says Federal Housing Finance Agency Director Bill Pulte becomes acting director of national intelligence, replacing Tulsi Gabbard. The appointment draws criticism because Pulte has no clear intelligence background and will oversee agencies including the CIA and National Security Agency.

Trump also signs an executive order directing artificial intelligence companies to give the federal government access to models before full public release so officials can assess their capabilities. The order seeks voluntary participation from developers and adds a new layer of oversight as AI companies accelerate product launches and, in some cases, move toward public market activity.

Our earlier coverage of premarket divergences across private equity, tech and retail highlighted how investors were reacting to fund withdrawal limits, earnings updates and guidance changes. We noted strong moves in names like Marvell and Macy’s on upbeat results and outlook, while exchange operators such as Cboe drew attention as the market weighed the impact of newly approved bitcoin perpetual futures on traditional venues.

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