SanDisk Rally Boosts S&P 500 Ahead of Friday's Session
The US markets are looking forward to Friday's session after achieving new closing and intraday all-time highs on Thursday. The S&P 500 is expected to push further into record territory, benefiting from a strong rally by computer-storage giant SanDisk (SNDK.US), which rose over 14% after issuing long-term forward guidance.
The company expects revenue growth of mid-teens in percentage terms annually between fiscal year 2028 and fiscal year 2030. This positive news offset losses experienced by other tech companies, such as Cerebras Systems (CBRS.US), Cisco (CSCO.US), Ondas (ONDS.US), and Coherent (COHR.US), which fell due to poorly received earnings or forward guidance.
A notable exception was Applied Materials (AMAT.US), which initially reported quarterly earnings and revenue beats, but later saw its stock fall 5% in after-hours trading. Looking ahead to Friday's session, few significant earnings numbers are expected, with Aya Gold & Silver (AYA.US) being the largest company to report before the US bell.