{"id":62512,"date":"2026-05-29T16:38:30","date_gmt":"2026-05-29T20:38:30","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/"},"modified":"2026-05-29T16:38:30","modified_gmt":"2026-05-29T20:38:30","slug":"wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/","title":{"rendered":"Wall Street Hits Record Highs as US-Iran Peace Deal Nears; OpenAI Eyes IPO Expansion"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_83 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Geopolitical_Breakthrough_Iran_MOU_Reaches_Final_Stages\" >Geopolitical Breakthrough: Iran MOU Reaches Final Stages<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Market_Wrap-up_Dow_Crosses_51000_Milestone\" >Market Wrap-up: Dow Crosses 51,000 Milestone<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Corporate_Finance_OpenAI_Expands_IPO_Roster\" >Corporate Finance: OpenAI Expands IPO Roster<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Treasury_and_Fed_Bessent_on_Rates_and_%22Trump_Coins%22\" >Treasury and Fed: Bessent on Rates and &quot;Trump Coins&quot;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-hits-record-highs-as-us-iran-peace-deal-nears-openai-eyes-ipo-expansion\/62512\/#Global_Macro_Spains_Rating_Confirmed\" >Global Macro: Spain\u2019s Rating Confirmed<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>US stock indexes reached record levels<\/strong> as the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average (<a href=\"\/stock\/DIA\">DIA<\/a>)<\/strong> unofficially closed above the <strong>51,000<\/strong> mark for the first time.<\/li>\n<li><strong>Geopolitical tensions eased<\/strong> following reports that the US and Iran are the <strong>&quot;closest ever&quot;<\/strong> to finalizing a Memorandum of Understanding (MOU), though funds held in <strong>Qatar<\/strong> remain a final sticking point.<\/li>\n<li><strong>OpenAI<\/strong> is reportedly in discussions to add Citigroup (<a href=\"\/stock\/C\">C<\/a>) and JPMorgan Chase (<a href=\"\/stock\/JPM\">JPM<\/a>) to its IPO underwriting lineup, targeting a valuation near <strong>$852 billion<\/strong>.<\/li>\n<li><strong>Treasury Secretary Scott Bessent<\/strong> outlined three potential paths for Iran\u2014<strong>Deal, No Deal, or &quot;Kinetic&quot; action<\/strong>\u2014while asserting that interest rates peaked the day before <strong>Kevin Warsh<\/strong> was sworn in as Fed Chair.<\/li>\n<li><strong>Spain\u2019s credit rating<\/strong> was confirmed at <strong>A (High)<\/strong> with a stable trend by <strong>Morningstar DBRS<\/strong>, citing a diversified economy and resilient service exports.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_Breakthrough_Iran_MOU_Reaches_Final_Stages\"><\/span>Geopolitical Breakthrough: Iran MOU Reaches Final Stages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The <strong>New York Post<\/strong> reported on Friday that the United States and Iran are at their closest point in history to finalizing a <strong>Memorandum of Understanding (MOU)<\/strong> to end current hostilities. While the framework for a <strong>60-day ceasefire<\/strong> and the reopening of the <strong>Strait of Hormuz<\/strong> is largely in place, negotiators are still grappling over the release of billions in <strong>Iranian funds held by Qatar<\/strong>.<\/p>\n<p><strong>Treasury Secretary Scott Bessent<\/strong> emphasized that the administration has three scenarios on the table: a finalized deal, a &quot;no deal&quot; status quo, or <strong>&quot;kinetic&quot; action<\/strong> if diplomacy fails. <em>Bessent noted that every action taken by the US since the initial ceasefire has been defensive<\/em>, but warned that &quot;there is more we can do on Iran if we have to.&quot; He further clarified that any removal of the current naval blockade would occur <strong>slowly<\/strong> to ensure Iranian compliance with nuclear concessions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Market_Wrap-up_Dow_Crosses_51000_Milestone\"><\/span>Market Wrap-up: Dow Crosses 51,000 Milestone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Wall Street finished the week on a high note, with all three major benchmarks posting unofficial gains. The <strong>Dow Jones Industrial Average (<a href=\"\/stock\/DIA\">DIA<\/a>)<\/strong> climbed <strong>339.56 points (0.67%)<\/strong> to finish at <strong>51,008.53<\/strong>, while the <strong><a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> (<a href=\"\/stock\/SPY\">SPY<\/a>)<\/strong> added <strong>19.32 points (0.26%)<\/strong> to close at <strong>7,582.95<\/strong>. The tech-heavy <strong>Nasdaq Composite (<a href=\"\/stock\/QQQ\">QQQ<\/a>)<\/strong> rose <strong>63.72 points (0.24%)<\/strong> to end at <strong>26,981.19<\/strong>.<\/p>\n<p>Investor sentiment was bolstered by the progress in Middle East peace talks and continued strength in the technology sector. <strong>Dell Technologies (<a href=\"\/stock\/DELL\">DELL<\/a>)<\/strong> was a standout performer, surging over <strong>30%<\/strong> following an earnings report that highlighted massive demand for <strong>AI computing infrastructure<\/strong>. <em>The rally marked the ninth consecutive winning week for the S&amp;P 500, its longest streak since 2023.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Corporate_Finance_OpenAI_Expands_IPO_Roster\"><\/span>Corporate Finance: OpenAI Expands IPO Roster<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a move signaling a massive public debut, <strong>OpenAI<\/strong> has held discussions about adding Citigroup (<a href=\"\/stock\/C\">C<\/a>) and JPMorgan Chase (<a href=\"\/stock\/JPM\">JPM<\/a>) to its IPO underwriting team. These banks would join <strong>Goldman Sachs<\/strong> and <strong>Morgan Stanley<\/strong> in managing what is expected to be one of the largest offerings in history.<\/p>\n<p>The AI giant, recently valued at <strong>$852 billion<\/strong> in private funding rounds, is reportedly targeting a <strong>September 2026<\/strong> listing. Financial analysts suggest the inclusion of additional major banks indicates OpenAI is preparing for a <strong>broad institutional allocation<\/strong> as it transitions to public market scrutiny.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Treasury_and_Fed_Bessent_on_Rates_and_%22Trump_Coins%22\"><\/span>Treasury and Fed: Bessent on Rates and &quot;Trump Coins&quot;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Secretary Bessent<\/strong> addressed the transition at the Federal Reserve, stating that <strong>interest rates peaked<\/strong> the day before <strong>Kevin Warsh<\/strong> was sworn in as the new Fed Chair. Bessent denied &quot;putting his thumb on the scale&quot; for Warsh\u2019s appointment but expressed confidence in the new regime&#39;s shift toward <strong>real-time data<\/strong> over traditional forward guidance.<\/p>\n<p>In a lighter moment during his briefing, Bessent confirmed that <strong>President Trump\u2019s image<\/strong> is slated to appear on a new <strong>commemorative coin<\/strong>. He also addressed currency markets, suggesting that many investors have a &quot;wrong notion&quot; of what a <strong>strong dollar<\/strong> truly signifies for the long-term health of the US economy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Macro_Spains_Rating_Confirmed\"><\/span>Global Macro: Spain\u2019s Rating Confirmed<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In international news, <strong>Morningstar DBRS<\/strong> confirmed the <strong>Kingdom of Spain\u2019s<\/strong> Long-Term Foreign and Local Currency Issuer Ratings at <strong>A (High)<\/strong>. The agency maintained a <strong>Stable trend<\/strong>, reflecting the country\u2019s strong performance in service exports and a commitment to fiscal consolidation. Despite a fragmented legislature, the rating agency expects Spain to continue its recovery plan, supported by the deployment of <strong>European Union<\/strong> transfers through 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways US stock indexes reached record levels as the Dow Jones Industrial Average (DIA) unofficially closed above the 51,000 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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