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S&P 500 reaches new peak driven by tech
The Standard & Poor's 500 index closed at a record high, supported by a rise in major technology stocks, particularly SanDisk, after producer price inflation data showed signs of easing, reducing fears of an interest rate hike by the Federal Reserve in September. Stocks rose significantly, with the index increasing by 0.66% to 7,799.73 points, marking a 14% gain since the beginning of 2026. The labor market also appeared stable, with a slight decline in producer prices and a moderate rise in unemployment benefit claims. Investors continue to anticipate a 63% chance of keeping interest rates steady at the upcoming meeting, amid falling oil prices and positive earnings reports from other technology companies.
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