S&P 500 Reaches New High as Tech Stocks Drive Gains

The S&P 500 index reached a new record high on Thursday, driven by significant gains in technology stocks.

Tech giants like Sandisk led the charge, with investors optimistic about their future prospects amid stable inflation data.

Momentum from strong forecasts by Microsoft and Amazon helped quell concerns over high expenditures on AI data centers.

CoreWeave's shares remained steady after a 19% jump earlier in the week.

Industry expert Jay Hatfield believes this surge reflects an earnings boom rather than a speculative bubble, contradicting fears that interest rates might be raised at the upcoming Federal Reserve meeting.