S&P 500 and Nasdaq Close at Record Highs as Tech Stocks Rally
Key Takeaways
- •All five major U.S. equity indices advanced at least 1.7%, with the S&P 500 and Dow Jones Industrial Average closing at fresh all-time highs.
- •Palantir was the top session gainer at 29.45% after its earnings report and forward guidance exceeded market expectations.
- •AMD reported earnings per share of $1.66 against a consensus estimate of $1.62, yet its shares declined approximately 5.3% in after-hours trading.
- •SpaceX published its first-ever earnings report, posting revenue of $7.8 billion versus the $6.83 billion consensus, though shares still fell 4.45% after hours.
- •The rally was broad-based, with the small-cap Russell 2000 gaining 1.85% alongside strong advances across semiconductor and technology stocks.
U.S. equities surged to close sharply higher, with every major index posting gains of at least 1.7% as risk appetite dominated the session. Technology shares led the advance, propelling the Nasdaq to the top of the leaderboard, while both the S&P 500 and the Dow Jones Industrial Average settled at new all-time highs. The rally drew broad participation, with the small-cap Russell 2000 also recording a firm advance, underscoring that the move was not limited to the largest names even as megacap technology remained the main driver.
Index Closing Levels:
- Nasdaq 100: 29,733.16, +956.36 points (+3.32%)
- Nasdaq Composite: 26,584.99, +671.10 points (+2.59%)
- Russell 2000: 3,036.98, +55.07 points (+1.85%)
- Dow Jones Industrial Average: 54,091.42, +908.11 points (+1.71%)
- S&P 500: 7,736.53, +136.04 points (+1.79%) — new record close
Notable Winners (gains of 5% or more):
- Palantir (PLTR): +29.45%
- Arm (ARM): +17.39%
- Whirlpool (WHR): +13.80%
- Marvell (MRVL): +12.81%
- Albemarle (ALB): +12.65%
- Coherent (COHR): +12.35%
- SanDisk (SNDK): +10.97%
- Intel (INTC): +10.84%
- Super Micro Computer (SMCI): +10.61%
- SpaceX: +9.43%
- Corning (GLW): +9.06%
- Credo Technology (CRDO): +8.96%
- Dell Technologies (DELL): +8.92%
- Lumentum (LITE): +8.92%
- Defiance Drone & Modern Warfare ETF (JEDI): +8.64%
- Skyworks Solutions (SWKS): +8.17%
- Lam Research (LRCX): +7.85%
- Micron (MU): +7.59%
- Qualcomm (QCOM): +7.33%
- CrowdStrike (CRWD): +7.16%
- AMD (AMD): +7.00%
- KLA (KLAC): +6.95%
- Broadcom (AVGO): +6.61%
- Nebius (NBIS): +6.19%
- Caterpillar (CAT): +5.57%
- VanEck Semiconductor ETF (SMH): +5.55%
- Palo Alto Networks (PANW): +5.53%
- Applied Materials (AMAT): +5.48%
- Texas Instruments (TXN): +5.43%
- Shopify (SHOP): +5.38%
- Datadog (DDOG): +5.35%
- Ciena (CIEN): +5.21%
- Cisco (CSCO): +5.08%
Palantir led the session's gainers after its earnings report and forward guidance exceeded expectations yesterday, adding a fresh catalyst to an already broad technology-led move.
Among the listed winners, AMD and SpaceX each moved lower in after-hours trading following their respective earnings releases, showing that strong regular-session gains can still be followed by more cautious trading once results are digested.
AMD reported earnings per share of $1.66, beating the consensus estimate of $1.62, on revenue of $11.5 million versus the $11.31 billion expected. Despite the beat, shares declined approximately 5.3% in after-hours trading.
SpaceX delivered its first earnings report, posting an EPS of -$0.09 against an expected -$0.24. Revenue reached $7.8 billion, compared with the $6.83 billion consensus estimate. Shares traded down 4.45% in after-hours activity.