Author: Niraj Shah Wall Street enters the first week of June riding record highs, buoyed by relentless AI-driven gains in technology and semiconductor stocks and growing optimism that the US-Iran conflict — ongoing since February — could see a meaningful de-escalation. A potential 60-day ceasefire extension has already triggered a sharp drop in oil prices (WTI and Brent both down significantly in May), easing inflation fears and supporting broader risk appetite.