07/09/2024

S&P 500 and Nasdaq Notch Record Highs

Meanwhile, chipmakers climb

On Monday, the S&P 500 and Nasdaq notched record-high closes as investors awaited fresh inflation data, commentary from Federal Reserve Chair Jerome Powell and the start of quarterly earnings season.

Nvidia rose nearly 2 percent, Intel rallied over 6 percent and Advanced Micro Devices added 4 percent, lifting the Philadelphia semiconductor index 1.9 percent.

Traders will scrutinize consumer price data due on Thursday and producer price data expected on Friday to gauge the Fed's progress in fighting inflation.

Please select this link to read the complete article from Reuters.