Stock market today: Dow, S&P 500, Nasdaq stall as crude oil steadies in wait for Iran-US deal update

May 7, 2026 - 23:26

U.S. stock indexes took a breather on Tuesday, with the Dow, S&P 500, and Nasdaq all stalling after a recent run of gains. The pause came as crude oil prices steadied, with traders waiting for the next signal on a potential nuclear deal between the United States and Iran. A breakthrough in those talks could ease global supply fears and lower energy costs, which would be a tailwind for corporate profits.

Despite the flat session, the broader mood on Wall Street remains upbeat. Investors are still chasing new records, fueled by optimism that a diplomatic resolution with Tehran is within reach. At the same time, the artificial intelligence boom continues to drive expectations for strong earnings growth, especially among the megacap tech names that have led the market higher this year.

The S&P 500 hovered near its all-time high, while the Nasdaq struggled for direction as some AI-related stocks took a breather. The Dow Jones Industrial Average also slipped slightly, weighed down by a dip in energy shares after oil prices pulled back from recent highs. Traders are now watching for any official statement from the White House or Iranian officials that could confirm progress on the deal.

For now, the market is in a holding pattern. The combination of lower oil prices and AI-driven earnings growth has been a powerful cocktail for stocks, but the next move likely depends on whether the Iran talks deliver a concrete agreement. Until then, investors are content to wait and see.