Chip Stocks Power S&P 500 to Record Highs, SanDisk Soars 15%: Stock Market Today
Key takeaways
- Semiconductor stocks power the S&P 500 to record highs, driven by a soft inflation print and strong sector performance.
- S&P 500 cleared 7,800 points for the first time ever
- Semiconductor sector outperformed the market
- SanDisk jumped 15% to $32.59
What happened
The S&P 500 cleared 7,800 points for the first time ever, driven by semiconductor stocks, after a soft inflation print reduced the likelihood of a September rate hike.
Why it matters
The S&P 500's record high is a significant milestone, and the semiconductor sector's strong performance is a key driver of the market's gains.
Short-term and longer-term
Short-term. The semiconductor sector's outperformance is a key driver of the market's gains, with stocks such as SanDisk and Micron Technology leading the way.
Longer-term. The semiconductor sector's strong performance is a key driver of the market's gains, with stocks such as SanDisk and Micron Technology leading the way.