President Donald Trump celebrated the U.S. stock market's latest record highs on Wednesday, highlighting the benchmarks' performance despite ongoing tensions in Iran.

The Dow Jones Industrial Average surged 612 points, or 1.2%, to close at 49,910, approaching its February record above 50,000. The S&P 500 gained 105 points to 7,365.12 for a fresh all-time high, while the Nasdaq Composite climbed 2% to another record, propelled by strong technology stocks. These gains came as oil prices dipped from recent highs, easing concerns over the Middle East conflict.

Trump's announcement on social media emphasized the market's resilience. Posts quoting the president noted the record amid the 'existing conflict,' referring to the Iran situation that has weighed on energy prices but failed to derail Wall Street's rally. This follows a pattern of records set earlier in the week, with the S&P 500 and Nasdaq also hitting highs on May 5 and May 1.

The markets have shown strength throughout 2026 under Trump's administration. In February, Trump touted 53 all-time record highs since the election during his State of the Union address. The Dow first broke 50,000 in early February, though it has traded around 49,000 since amid volatility. Despite dips tied to the Iran war earlier this spring, indexes have recovered, with investors betting on de-escalation.

Corporate earnings have supported the uptrend, with tech leaders driving gains. Oil's decline on Wednesday further boosted sentiment, as the U.S. downplayed Mideast risks. The S&P 500 is up over 6% year-to-date, the Dow is up 2.6%, and the Nasdaq is up 9%.

Trump has repeatedly pointed to market performance as validation of his economic policies. In April, he expressed surprise that the Iran conflict had not caused steeper declines, noting the Dow's recovery. Wednesday's action underscores the ongoing rally into May.