S&P 500 notches record-high close as rate-hike worries ease
The S&P 500 notched a record-high close, fueled by advances in Sandisk and other heavyweight technology stocks, as tame producer price inflation data supported expectations the Federal Reserve will not raise interest rates at its September meeting.
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Video Summary
AI GeneratedWall Street indexes closed higher on Thursday, with the S&P 500 reaching a record high. The market was primarily driven by gains in chip stocks and Netflix, though Cisco and Tapestry saw significant declines. Economic data showed stable producer prices and a steady jobs market, while traders anticipate the Federal Reserve may keep interest rates unchanged next month.
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