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Tech Rally Boosts S&P, Dow Near Records
Tech stocks surged, leading the S&P 500 to a new high, as Micron Technologys strong forecasts and cooler-than-expected inflation data boosted the sector. Nvidia shares soared on reports of AI chip shipments to China, while other chipmakers followed suit. Despite caution ahead, Decembers Santa Claus rally history could bring further gains. Most sectors ended higher, with financials, materials, and energy leading due to rising commodity prices. Tesla hit an intraday record, and Warner Bros. Discovery and Paramount climbed on potential takeover deal news. The VIX dropped to its lowest since December, indicating calm markets.
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Published on 2 weeks, 1 day ago