Stocks extended their push into record heights on Wall Street, led by big gains in chipmakers. Three in four stocks in the S&P 500 gained ground.
U.S. stocks extended their push to record heights on Wall Street on Thursday, led by big gains for chipmakers. The Standard & Poor's 500 rose 16.91 points, or 0.3%, to 5,241.53, which set an all-time high for a third straight day. Three in four stocks in the index gained ground. The Dow Jones industrial average gained 269.24 points, or 0.7%, to 39,781.37, and the Nasdaq composite rose 32.43 points, or 0.2%, to 16,401.84. Both indexes added to records set a day earlier. Micron surged 14.
5% after its revenue forecast for the full fiscal year came up shy of analysts'. Treasury yields were mostly steady a day after the Federal Reserve said it still expects to make three rate cuts this year. That helped calm some worries on Wall Street that it would pull some cuts off the table after some hotter-than-expected inflation reports. Lower interest rates would relax pressure on the economy and the financial system.
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