US stocks-S&P 500 hits record high as rate-hike worries ease

Eight of the 11 S&P 500 sector indexes rose, led by real estate .SPLRCR, up 1.18%, followed by a 1.13% gain in communication services .SPLRCL. The S&P 500 is up almost 14% in 2026, while the Nasdaq has gained 15%. Fresh data showed U.S. producer prices were unchanged in July as goods prices fell and the cost of services increased marginally, while the number of Americans filing claims for unemployment benefits increased moderately last week, pointing to a stable jobs market. Traders are pricing in a 63% chance that the Fed will keep interest rates unchanged at its meeting next month, according to CME's FedWatch tool. Cisco Systems CSCO.O dropped 9% after the networking equipment maker's upbeat revenue forecast failed to satisfy investors with high expectations. Netflix NFLX.O added 3.7% after billionaire investor Bill Ackman unveiled a new holding in the streaming company as part of Pershing Square's biggest portfolio overhaul in years. Tapestry TPR.N shares plunged 16% after the Coach owner forecast sluggish annual revenue growth. Dell Technologies DELL.N and HP HPQ.N gained 2.9% and 3.6%, respectively, after quarterly results from China's Lenovo 0992.HK beat expectations. Advancing issues outnumbered falling ones within the S&P 500 .AD.SPX by a 1.8-to-one ratio. The S&P 500 posted 28 new highs and one new low; the Nasdaq recorded 138 new highs and 74 new lows. Brent crude oil futures LCOc1 were down 1.5% at $87.66 a barrel. The S&P 500 climbed to a record high on Thursday, fueled by advances in Sandisk and other heavyweight technology stocks, as tame producer price inflation data supported expectations the Federal Reserve will not raise interest rates at its September meeting. Memory chip makers Sandisk SNDK.O and Micron Technology MU.O surged 16% and 6.7%, respectively. Broadcom AVGO.O added 1.3% and Meta Platforms META.O rose 2.8%. Strong forecasts in recent weeks from companies including Microsoft MSFT.O and Amazon AMZN.O have reduced investors' concerns about massive spending on AI data centers. Shares of AI cloud company CoreWeave CRWV.O were flat on Thursday. CoreWeave surged 19% a day earlier after lifting its annual capital spending forecast. "The AI earnings-driven tech boom continues," said Jay Hatfield, CEO of Infrastructure Capital Advisors in New York. "It's an earnings boom, not a bubble." The S&P 500 was up 0.56% at 7,791.70 points, off an earlier all-time high of 7,816.70. The Nasdaq gained 0.73% to 26,782.15 points, while the Dow Jones Industrial Average was down 0.01% at 53,766.27 points.

US stocks-S&P 500 hits record high as rate-hike worries ease

Sector moves and inflation data shape Fed expectations

Individual movers include Cisco, Netflix, Tapestry, Dell and HP

S&P 500 hits record high on softer inflation data and tech gains

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