Met Gala guests (and the rest of us) learn the next dress code: 'Fashion is Art'

NEW YORK (AP) — You certainly don’t have to tell Beyoncé this: Fashion, when deployed properly, is nothing less than art.

Now, the fashion-forward superstar will have another chance to make the point. When she co-chairs the Met Gala in May, all eyeballs will be glued to the steps of the Metropolitan Museum of Art to see how one of the most watched women on the planet, in her eighth gala appearance, interprets the dress code: “Fashion is art.”

The museum announced the dress code Monday, along with some gala-related details including new guest names. Joining the top co-chairs — Beyoncé, Nicole Kidman,tennis champ Venus Williams and Vogue's Anna Wintour — is a “host committee” chaired by designer Anthony Vaccarello and filmmaker Zoë Kravitz, and featuring names from Sabrina Carpenter and Teyana Taylor to Lena Dunham and Misty Copeland. Additions include actor Angela Bassett and athlete Aimee Mullins.

They, and everyone else attending, will be figuring out what to wear come May 4. The code seems to have been chosen for maximum flexibility. And, quips Andrew Bolton, curator of the Met's Costume Institute: “Hopefully, it will put an end to the rather obsolete 'Is Fashion Art?' debate once and for all.”

For Bolton, though, the show’s the thing, to paraphrase Hamlet. As gala-watchers know, the big party is not only a fundraiser for the institute — a self-funding department — but a launchpad for the annual spring fashion exhibit. Curated by Bolton and his team, this year's show, “Costume Art,” seeks to present fashion as a through-line in the entire history of art.

The exhibit will be the biggest, in terms of objects, that the institute's ever done: nearly 400 in total, or 200 garments and 200 artworks from around the museum, placed in pairs. “It's a beast,” Bolton said, looking a tad exhausted as he guided a reporter around the beginnings of the exhibit on a recent visit.

The idea, he noted, is to examine “the dressed body” in all its aspects, and to make the point that not only is fashion art — something previous shows have shown — but that art is fashion. “It’s reversing what we’ve done before,” Bolton says. “Now we're looking at art through the lens of fashion.”

What that means, in practice, is that you might see an art object in a glass case — say, a vase from ancient Greece. Displayed above the case will be a garment from the museum’s vast costume collection, echoing the fashion on figures in that vase.

Right now, that vase is represented by a small color snapshot, affixed with dozens of others to the walls of a small conference room in the bowels of the museum — along with countless Post-it notes. Bolton has been spending lots of time in this space, which looks rather like a teenager’s room (albeit a very cultured teenager.)

Bolton walks along the walls, pointing out each of 12 sections organized to show the range of bodies — and body types — in art. Some are pervasive, like the classical body or the naked body.

Others have been overlooked, like the disabled body, the aging body, or the corpulent body. Bolton notes that in art, the corpulent body has almost entirely been used as a fertility symbol. “It’s like the notion that corpulence does not exist without fertility,” he says.

Then there's the pregnant body, also much overlooked in both art and fashion history. It's represented here by the pairing of Edgar Degas' “Pregnant Woman,” a naturalist sculpture that gives a rare look at 19th-century maternity, with designer Georgina Godley’s 1986 dress featuring exaggerated padded curves — defined as “a radical feminist critique” of traditional fashion.

The exhibit, which seeks to emphasize diversity in body types, also aims to enable viewers to see themselves in some of the fashions. Thus, mannequins will feature heads with polished steel surfaces — as in mirrors – designed by artist Samar Hejazi.

Bolton, who's curated the Met’s biggest costume shows, nonetheless says he felt special pressure here to do “something spectacular.” That’s because “Costume Art” is inaugurating, with fanfare, a prominent new home for the museum’s fashion exhibits. The new Conde M. Nast Galleries — created from what was formerly the museum’s retail store — will occupy nearly 12,000 square feet (1,115 square meters) off the museum’s Great Hall.

For one thing, that will mean gala guests now can conveniently view the exhibit and then stroll easily to the dinner portion of the evening at the Temple of Dendur — or toggle between the two. A more lasting result: it will prevent snaking lines elsewhere in the museum, once the show opens to the public May 10.

For “Costume Art,” the galleries, still being completed, consist of two main rooms with different heights — one with an 18-foot ceiling, one with a 9-foot ceiling. The idea is for viewers to weave in and out of each space. “There's a permeability,” Bolton says.

He calls the new show, already, one of the highlights of his career — and a statement of intent.

“We’re trying to make a statement here — that this is something WE can do at the Met,” he explains. “We have access to 16 curatorial departments across the museum.” And, of course, access to the institute's more than 33,000 garments. “Really, nobody else has this capacity,” Bolton says.

He hopes the show will inaugurate not only new galleries, but an era of collaboration with the rest of the museum – one that puts fashion, well, forward.

“Costume Art” will run from May 10 through Jan. 10, 2027.

A vintage walking dress is held in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

A vintage walking dress is held in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

A Christopher Kane dress is displayed in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

An Alexander McQueen dress is displayed in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

A vintage walking dress, from left, an Alexander McQueen dress, and a Christopher Kane dress are held in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

A vintage walking dress, from left, an Alexander McQueen dress, and a Christopher Kane dress are held in preparation for The Metropolitan Museum of Art's spring exhibition, "Costume Art," on Thursday, Feb. 12, 2026, in New York. (Photo by Charles Sykes/Invision/AP)

NEW YORK (AP) — U.S. stocks are hanging near their records Wednesday as oil prices fall and ease the pressure on households and businesses worldwide.

The S&P 500 slipped 0.1% below its all-time high set the day before. The Dow Jones Industrial Average was up 183 points, or 0.4%, as of 12:56 p.m. Eastern time, and the Nasdaq composite was 0.1% lower.

Stocks of companies with big fuel bills helped lead the way on hopes that lower oil prices will remove a big drag on their profits. Norwegian Cruise Line Holdings climbed 5.7%, and United Airlines rallied 7.3%. Delta Air Lines rose 3.7% and is on track to set an all-time high.

The price for a barrel of Brent crude oil fell 4.1% to $95.48 after the ceasefire between the United States and Iran appeared to hold despite the U.S. military launching what it called “self-defense” strikes in southern Iran. A barrel of benchmark U.S. crude fell even more, 4.2%, to $89.69 on hopes that the United States and Iran can reach an agreement to reopen the Strait of Hormuz and allow oil tankers to exit the Persian Gulf for deliveries again.

Stocks have been able to run to records despite the painful inflation and uncertainty caused by high oil prices largely because companies have reported surprisingly strong profits for the start of 2026, and the forecast is for them to continue.

Bath & Body Works rallied 11.2%, and Abercrombie & Fitch climbed 11.8% after both reported bigger profit for the latest quarter than analysts expected. That's even as U.S. consumers continue to say they're feeling discouraged about the economy and inflation.

Lululemon Athletica rose 3.6% after reaching a deal with its founder, Chip Wilson, where it will add a former chief marketing officer of ESPN and a former co-CEO of On to its board of directors.

On the losing side of Wall Street was Dick's Sporting Goods, which dropped 4.9% despite delivering a profit for the latest quarter that edged past expectations. Analysts pointed to how much profit it wrung out of each $1 in revenue, which some called a bit weak.

Oil-and-gas stocks also sank, hurt by the dropping prices for crude. Exxon Mobil fell 1.4%, and Chevron slipped 0.8%. Halliburton dropped 3% to bring its gain for the year so far back toward 40%.

In the bond market, Treasury yields eased after falling oil prices took pressure off inflation. The yield on the 10-year Treasury slipped to 4.48% from 4.50% late Tuesday and from 4.67% roughly a week ago.

It’s a respite following recent gains for yields in bond markets worldwide, which threatened to slow economies and undercut prices for stocks and all kinds of other investments. High yields have already forced the average long-term U.S. mortgage rate to its most expensive level since last summer, and they could curtail companies’ borrowing to build the artificial-intelligence data centers that have supported the U.S. economy’s growth recently.

In stock markets abroad, indexes were mixed across Europe and Asia. South Korea's Kospi was one of the world's best performers and jumped 2.3% after SK Hynix, which is a big beneficiary of the artificial-intelligence boom, soared 9.3%.

A day before, Micron Technology surged to become the latest Big Tech company to be worth more than $1 trillion on AI excitement. Its stock has more than tripled already in 2026, and analysts at UBS said Tuesday it could soar even more because of how fundamentally AI has improved demand for computer memory.

AP Business Writer Elaine Kurtenbach contributed to this report.

Trader Edward Curran, left, and specialist Meric Greenbaum, center, work on the floor of the New York Stock Exchange, Friday, May 22, 2026. (AP Photo/Richard Drew)

A person looks at an electronic stock board showing Japan's Nikkei index at a securities firm Monday, May 25, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)

A dealer walks past near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer walks past near the screens showing the foreign exchange rates at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer walks past near the screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)

A dealer stands near the screens showing the Korea Composite Stock Price Index (KOSPI), the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 27, 2026. (AP Photo/Lee Jin-man)