By CHIBUIKE OGUH, Reuters Published June 2, 2026 12:46am + Add GMA on Google Make this your preferred source to get more updates from this publisher on Google. NEW YORK — Global stocks clung to record highs on Monday as strong corporate results, fueled in part by artificial intelligence optimism, outweighed investor concerns over escalating US-Iran tensions that have pushed oil prices higher.The US said it struck Iranian military sites at the weekend and Iran's Revolutionary Guards said on Monday it had targeted a US base in response. Also on Monday, Iranian news agency Tasnim said Iran is halting indirect negotiations with the US after Israel ordered troops to push deeper into Lebanon to battle Tehran-backed Hezbollah.The fresh hostilities could complicate diplomatic efforts to end the three-month-long war.On Wall Street, the benchmark S&P 500 was mostly flat but still near record highs as energy and technology stocks drove gains while consumer discretionary, materials and utilities led losers.The Dow Jones Industrial Average fell 0.43%, the S&P 500 fell 0.05%, and the Nasdaq Composite .IXIC rose 0.11%.The pan-European STOXX 600 index fell 1.1%.Nvidia unveiled a new chip on Monday that puts AI capabilities directly into laptops and desktop computers, raising the stakes in the battle for dominance among other semiconductor makers and technology companies.The MSCI All-World index fell 0.20% after hitting a fresh record high on the day."We are in an unusual period for the market where the fundamentals and technicals converge to drive markets higher, with strong earnings revisions and relentless buying," said Mark Hackett, chief market strategist at Nationwide in Philadelphia."Equity markets have been largely immune to Iran news over the past several weeks because investors are afraid of being caught on the wrong side if a significant development occurs." — Reuters