Dow Jones and S&P 500 hit record highs as tech and semiconductor stocks surge

U.S. stock markets closed on a strong note this week, with major indexes hitting new highs. The Dow Jones Industrial Average set a record, while the S&P 500 extended its winning streak to eight weeks in a row. Tech and semiconductor shares led the gains, though some companies saw mixed results. The Dow Jones Industrial Average reached a record closing high of 50,579.70. Meanwhile, the S&P 500 secured its eighth straight weekly gain, with nine of its eleven major sectors finishing higher. Healthcare, utilities, industrials, and technology stocks performed particularly well.

Semiconductor stocks mostly climbed, pushing the Philadelphia Semiconductor Index upward. Qualcomm’s shares surged by 12%, but Nvidia dipped by 1.90%. In the computer sector, Dell Technologies hit a record high after a 17% jump, while HP Inc rose by 15%. The gains followed strong earnings from China’s Lenovo Group. Beyond stocks, the yield on the benchmark U.S. 10-year Treasury note fell to 4.558%. On the political front, Secretary of State Marco Rubio reported progress in negotiations toward a deal with Iran. Additionally, Kevin Warsh was sworn in as the new chair of the Federal Reserve.

The market’s upward trend reflects broad gains across key sectors, though some individual stocks faced volatility. With the Dow and S&P 500 both achieving milestones, investors will watch how new economic policies and global developments shape future performance.