S&P 500 notches record-high close as US rate-hike worries ease
The S&P 500 climbed 0.65 per cent to end the session at 7,798.99 points, exceeding its record high close on Aug 7.
On August 13th, the S&P 500 hit a new record high, buoyed by strong performances from tech giants like Sandisk, Micron Technology, Microsoft, and Meta Platforms. The surge was fueled by positive producer price inflation data, suggesting the Federal Reserve may not raise interest rates during their September meeting. Memory chip makers Sandisk and Micron Technology each gained over 10%, while Microsoft and Meta Platforms added nearly 1% and 2.8%, respectively.
CoreWeave's stock fell by 1.3%, amidst a broader market rally. The S&P 500 closed the session at 7,798.99 points, exceeding its previous record set on August 7th. The Nasdaq also saw gains, rising 0.81% to 26,803.03 points. Investors remain optimistic about the tech sector, driven by strong earnings forecasts and reduced concerns about massive spending on AI data centers. The S&P 500 has gained roughly 14% in 2026, while the Nasdaq has risen about 15%.
Written by urgent.news from Straits Times Business's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
