Equity Alert
S&P 500, NSDAQ notch fresh highs; tech stocks top gainers
This story was originally published at 08:02 IST on 7 May 2026
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Equity Alert: S&P 500, NSDAQ notch fresh highs; tech stocks top gainers
MUMBAI--0745 IST--The S&P 500 and the NASDAQ Composite touched new highs for the second consecutive session, driven by technology stocks and positive sentiment from reports that said the US is close to reaching an understanding with Iran to end the war and set a framework for more detailed nuclear negotiations.
On the stock front, Advanced Micro Devices closed sharply higher. The stock closed nearly 19% higher after the management revised its guidance. The company sees the market for central processing units growing over 35% per year. The market is expected to cross $120 billion by the end of the decade. "Agents are really driving tremendous demand in the overall AI adoption cycle, and we're very excited to be in the middle of it," Lisa Su, chief executive officer of Advanced Micro Devices, told CNBC. Among technology stocks, other key buzzers were Micron Technology, Intel Corp., and Nvidia Corp.
Among stocks in focus on the back of earnings was Walt Disney Co. Shares of the entertainment giant gained over 7?ter its March quarter results beat estimates. New CEO Josh D'Amaro guided the company's earnings per share to grow 12% in 2026.
What could be a spoilsport for markets Thursday was US President Donald Trump's statement threatening intensified attacks on Iran if Tehran does not agree to the contours of the peace deal. Crude oil prices had slipped sharply Wednesday but have risen again after Trump's threats against Iran. Brent Crude oil futures were up over 5% from Wednesday's lows at nearly $101 per barrel. US futures, however, have shown a slight positive bias.
The following were the closing levels of major US indices on Wednesday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
49910.59 | 1.24 |
|
NASDAQ Composite |
25838.943 | 2.02 |
|
S&P 500 |
7365.12 | 1.46 |
(Ruchira Kagita)
US$1 = INR 94.61
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Saji George Titus
All prices from National Stock Exchange, unless otherwise specified.
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