S&P reaches new high with 14% rise by 2026
The S&P 500 index closed at a new record high, driven by gains in major technology stocks, especially chip manufacturers like Sandisk and Micron Technology, after moderate inflation data that offset expectations of a September interest rate hike in the United States. The data also showed stable producer prices in the U.S. and a decline in unemployment benefit claims, reinforcing expectations that interest rates will not be raised soon. Globally, European and Gulf markets experienced mixed performance, with attention focused on corporate earnings reports and developments in the Middle East crisis, which affected the energy and precious metals sectors. Japanese stocks reached historic levels, while Gulf markets showed variation, with further stability or movement expected depending on upcoming inflation data.
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