U.S. Benchmark Indexes Reached New Record Highs, AI Bull Market Lifted Memory Chip Makers

Barry Adams
27 May, 2026
New York City

Wall Street indexes advanced on Wednesday and extended the market rally to the ninth consecutive week amid optimism about AI trading. 

The S&P 500 index increased 0.3%, and the tech-heavy Nasdaq Composite advanced 0.7% following the rise in computer memory chip markers. 

The two widely followed benchmark indexes extended the market rally to the ninth week, as investors shifted their focus to critical players benefiting from the current AI bull market. 

Crude oil extended this week's decline for the second consecutive session and dropped by 4% to $90.47 a barrel amid speculation that the U.S. and Iran are inching closer to an agreement, despite the renewed U.S. attacks. 

In metals trading, gold, silver, and copper fell, tracking lower prices in the energy markets. 

Gold decreased 1.4% to $4,434.69 an ounce, silver declined 3.7% to $74.17 an ounce, and copper fell 0.7% to $6.40 a pound.

 

U.S. Movers 

Dick's Sporting Goods decreased 3.9% to $224.0 after the company's first-quarter earnings missed market expectations. 

The specialty retailer posted adjusted earnings per share of $2.90 on revenue of $5.2 billion, and the company reaffirmed its full-year adjusted earnings outlook. 

Bath & Body Works jumped 11% to $19.60 after the company reported its first-quarter results. 

The retailer estimated second-quarter earnings per share between 20 cents and 25 cents, surpassing market expectations of 19 cents.

Zscaler plunged 24.5% to $138.55 after the cloud security company's current quarter earnings per share fell short of market expectations. 

Revenue in the fiscal third quarter rose to $850 million, and adjusted earnings per share increased to $1.08, surpassing market estimates. 

However, the cloud security company guided current quarter revenue between $875 million and $878 million, lower than the market expectations of $879 million.

Box Inc. dropped 2.2% to $25.06 after the company reported its latest quarterly results and issued a softer-than-expected full-year adjusted earnings outlook of $1.56 per share.