Dow jumps nearly 300 points to hit new record as oil prices retreat

US

stocks opened higher on Wednesday, May 27, with the Dow Jones Industrial Average (DJIA) rising more than 300 points as easing oil prices lifted investor sentiment, although weakness in cybersecurity stocks capped gains in the broader market.

The Dow advanced 335 points, or 0.7%, led by a more than 3% rise in shares of consumer goods giant Procter & Gamble. The S&P 500 edged up 0.1%, hovering near record levels, while the Nasdaq Composite traded largely flat.

Markets found support after US crude oil prices fell around 4% to below $90 a barrel. The decline followed reports from Iran’s state television indicating the country remains committed to restoring commercial traffic through the Strait of Hormuz to pre-war levels within a month, according to Reuters.

However, losses in cybersecurity shares weighed on technology sentiment. Zscaler plunged 29% after the cloud security company issued weaker-than-expected revenue guidance for the current quarter.

The negative outlook dragged peers lower, with Palo Alto Networks falling more than 2% and CrowdStrike declining over 3%. The Global X Cybersecurity ETF also dropped more than 4% during the session.

The mixed market action comes as investors continue to monitor geopolitical developments in West Asia, oil price movements, and the broader impact of artificial intelligence-driven changes across the technology sector.