• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

S&P 500 closes above 5,600 for the first time, lifted by gains in Big Tech

by July 11, 2024
written by July 11, 2024

The S&P 500 climbed Wednesday to a fresh record, breaking above 5,600 for the first time, as a sharp rise in semiconductor stocks led the market higher.

The broad market index jumped 1.02%, closing at 5,633.91, and notching a seventh straight day of gains. The Nasdaq Composite advanced 1.18%, also hitting an all-time high and ending at 18,647.45. It was the 37th record close in 2024 for the S&P 500, and the 27th for the tech-heavy Nasdaq. The Dow Jones Industrial Average added 429.39 points, or 1.09%, to close at 39,721.36.

Chip stocks were among the largest winners of the session. Taiwan Semiconductor added 3.5% after revenue from April to June came in ahead of Wall Street estimates. Peer chip firm Qualcomm ticked higher by 0.8%, and Broadcom rose about 0.7%. Artificial intelligence darling Nvidia climbed 2.7%.

Those moves come as investors await fresh inflation figures on Thursday with the release of the June consumer price index report. The data follows comments from Federal Reserve Chair Jerome Powell on Tuesday and Wednesday that has fueled investor hopes for a rate cut in the second half of the year.

“There are some things out there that look kind of frothy, but there’s no indication yet that [megacap technology] earnings can’t support those valuations,” said Scott Welch, chief investment officer at Certuity. “It’s important to remember that seven to 10 stocks constitute 30% to 40% of the S&P 500 market cap … if there’s any slippage it’s going to have an amplified effect.”

Economists polled by Dow Jones expect a 0.1% month-over-month advance and a 3.1% year-on-year gain. Core CPI, which excludes energy and food prices, is forecast to have expanded 0.2% from the prior month and 3.4% from a year earlier. The producer price index is set for release Friday.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Fed Chair Powell says holding rates high for too long could jeopardize economic growth
next post
The Fed may soon cut interest rates. That could make your next trip abroad more expensive

related articles

Lululemon sues Costco over selling alleged dupes

July 1, 2025

Clean energy stocks fall as Trump bill would...

July 1, 2025

Google makes first foray into fusion in venture...

July 1, 2025

Home Depot is buying GMS for about $4.3...

July 1, 2025

Home Depot is buying GMS for about $4.3...

June 30, 2025

Microsoft says goodbye to the Windows blue screen...

June 30, 2025

Apple reveals complex system of App Store fees...

June 30, 2025

Divided Fed proposes rule to ease capital requirements...

June 26, 2025

Women’s Tennis Association extends media rights deal with...

June 26, 2025

Bumble shares jump 26% as dating company plans...

June 26, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Elon Musk posts ‘Kill Bill’ meme in latest push to nix Trump’s ‘big, beautiful bill’

    June 4, 2025
  • 3 political winners for 2024

    December 28, 2024
  • Trump Media in reported talks to buy crypto trading platform Bakkt, sending shares soaring

    November 19, 2024
  • Dem insiders head into final election stretch confident on Harris win: ‘Nauseously optimistic’

    November 2, 2024
  • Iran, following Trump strikes, says ‘the doors of diplomacy will never slam shut’

    July 1, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,209)
  • Investing (634)
  • Stock (827)

Latest Posts

  • US officials delayed warning public about heart inflammation risk from COVID shot: report

    May 21, 2025
  • Kamala Harris’ new climate director said she is hesitant to have children because of climate change threats

    September 10, 2024
  • GOP talks on millionaire tax hike come from party’s populist streak, strategists say

    April 24, 2025

Recent Posts

  • Venezuelan President Nicolas Maduro wins re-election, as opposition disputes results

    July 29, 2024
  • Speaker Johnson moves on Senate’s Trump budget bill as House GOP rebels threaten to defect

    April 5, 2025
  • The great airlift: how Apple ferried 1.5M iPhones from India to the US to beat Trump tariffs

    April 11, 2025

Editor’s Pick

  • DeepSeek hit with large-scale cyberattack, says it’s limiting registrations

    January 28, 2025
  • Microsoft Q4 earnings preview: Revenue poised for 14% growth, driven by Azure and Office strength

    July 18, 2024
  • House Dems organize rapid response task force and litigation group to combat Trump agenda

    February 11, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock