In the early morning of May 22, 2026 Beijing time, the three major U.S. stock indexes closed higher after volatile trading, and the Dow Jones Industrial Average refreshed its all-time closing high again, breaking through the 50,200-point mark. The overall market sentiment improved significantly, driven by phased progress in US-Iran negotiations and falling crude oil prices, which eased market concerns about persistent high inflation. The U.S. stock market showed obvious structural differentiation. Leading AI computing giant Nvidia fell slightly after releasing financial results due to profit-taking pressure after a long-term surge. In contrast, quantum computing and chip design enterprises ushered in explosive growth. ARM Holdings surged sharply, with its market value breaking through $300 billion for the first time, and IBM also achieved a substantial increase, becoming the core driving force for the market rally. Market analysts pointed out that the current U.S. tech market has entered a new stage of segmented rotation. The market capital preference is gradually shifting from mature AI computing tracks to emerging frontier technology fields such as quantum computing, which is closely related to the U.S. government’s new $2 billion support plan for quantum technology enterprises. In addition, falling oil prices have eased the Federal Reserve’s inflationary pressure, making investors more optimistic about the “higher for longer” interest rate policy outlook. The stable earnings performance of U.S. listed companies also provides fundamental support for the stock market’s record high. Looking ahead, the market will continue to focus on US inflation data and the progress of US-Iran negotiations. The structural differentiation of technology stocks will continue, and emerging technology tracks are expected to maintain a high prosperity trend.