S&P 500 Hits Intraday Record as Tech Stocks Surge Amid Falling Oil Prices

The S&P 500 hit an intraday record high on Thursday due to gains in tech stocks, particularly semiconductors. This boost was also fueled by falling crude oil prices and stable inflation, which increased risk appetite among traders.

Standout performers on the index included SanDisk and Micron, while the Dow Jones Industrial Average fell by 96.14 points due to a 9% drop in Cisco Systems despite an optimistic revenue forecast for 2027.

The Nasdaq Composite and S&P 500 Information Technology Index rose thanks to gains in giants like Microsoft and Apple. Market dynamics were influenced by U.S. producer price stagnation in July and moderate unemployment claims, shifting confidence towards a potential interest rate pause by the Federal Reserve.