S&P 500 reaches record high backed by tech

The "Standard & Poor's 500" index closed at a record high, supported by gains in the shares of major technology companies, especially chip manufacturers such as "SanDisk" and "Micron Technology," following the release of subdued inflation data that reinforced expectations that the Federal Reserve will not raise interest rates in September. Positive forecasts from companies like "Microsoft" and "Amazon" helped ease investor concerns about AI spending, resulting in the index rising by 0.66% to 7,799.73 points, marking a roughly 14% gain since the start of 2026. Meanwhile, labor market data showed stability in producer prices and the number of unemployment claims.

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