US Stocks Hit Record Highs as Inflation Cools and AMD Secures Billions

The US stock market ended Thursday's session on a positive note, with the S&P 500 hitting record highs and the Nasdaq 100 rising 1.2%.

The gains were driven by a stronger-than-expected slowdown in wholesale inflation, which cooled to 4.7% year-over-year from June's 5.5% gain.

This moderation in inflation rates has alleviated fears that the Federal Reserve could hike interest rates at its September meeting.

Advanced Micro Devices (AMD) raised nearly $5 billion in its largest-ever US-dollar bond offering, further supporting the market's momentum.

SanDisk's (SNDK) strong revenue outlook for fiscal years 2028 through 2030 also contributed to the S&P 500's gains, with targets for mid-to-high-teens compound revenue growth and non-GAAP gross margins near 80%.