{
  "id": 775854,
  "title": "Tech stocks power S&P 500 to record high as oil weakens",
  "url": "https://urgent.news/2026/08/13/tech-stocks-power-s-p-500-to-record-high-as-oil-weakens",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-13T14:29:16.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/13/tech-stocks-power-s-p-500-to-record-high-as-oil-weakens"
  },
  "original_language": "en",
  "account": "The S&P 500 hit a record high on Thursday, propelled by tech stocks, as oil prices fell and fuelled a more positive outlook for investors. Brent crude futures dropped 2.2% after six days of gains, reflecting concerns over lower global demand and higher US crude stocks. Tensions between Iran and the US over the Middle East conflict, combined with restricted traffic through the Strait of Hormuz, also weighed on oil prices. Tech giants such as Microsoft, Nvidia, and Apple led the Nasdaq's climb, with Microsoft up 1.4%, Nvidia 0.6%, and Apple 0.5%. The Dow Jones Industrial Average gained 0.36%, reaching 53,960.29. Financial and healthcare stocks helped steady the Dow. July's producer price figures came in at 4.7%, below forecasts, while consumer inflation data suggested the Federal Reserve may hold interest rates steady. Analysts noted that while the earnings of Big Tech companies were boosting the markets, they were wary of companies spending without a clear path to profitability. The market showed a preference for firms delivering results.",
  "summary": "Microsoft added 1.4%, Nvidia was up 0.6% and Apple added 0.5% as investors flocked back to Big Tech stocks.",
  "key_points": [
    "Tech stocks, led by Microsoft, Nvidia, and Apple, power S&P 500 to record high",
    "Oil prices weaken, Brent crude futures drop 2.2% amid demand and supply concerns",
    "Financial and healthcare stocks stabilize Dow Jones, Federal Reserve may keep rates steady"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Tech stocks power S&P 500 to record high as oil weakens",
        "url": "https://urgent.news/2026/08/13/tech-stocks-power-s-p-500-to-record-high-as-oil-weakens-781146",
        "published": "2026-08-13T14:29:16.000Z"
      },
      {
        "outlet": "Business Recorder",
        "title": "Tech stocks power S&P 500 to record high as oil, producer inflation weaken",
        "url": "https://urgent.news/2026/08/13/tech-stocks-power-s-p-500-to-record-high-as-oil-producer-inflation",
        "published": "2026-08-13T15:15:24.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}