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S&P 500 broke above its May-July range near 7,600 on strong Q2 earnings, falling oil prices, and tech rally led by hyperscalers amid compute shortage optimism. Focus shifts to jobs data and inflation…
Wall Street rallied to record highs Tuesday, with S&P 500 up 1.8% and Nasdaq surging 2.6%, driven by a resurgence in tech stocks after a two-month drought of records.
S&P 500 rose 0.45% to 7,506.87 with 40 new 52-week highs. Semiconductor stocks led gains: Micron up 16.5%, Western Digital up 9.1%. Retail and automotive stocks declined sharply.
S&P 500 surged 0.74% past 7,500 as AI infrastructure gains offset macroeconomic headwinds. Cisco jumped 15% on strong earnings, while Nvidia rallied on US approval for Chinese H200 chip exports.