S&P 500 surges to record high today: Why is S&P 500 rising and US stock market rallying to all-time highs?

Chipmakers and Big Tech led the rally. Qualcomm soared 13% to a new record after unveiling its latest AI-powered Snapdragon chips, directly challenging Nvidia and AMD in the booming AI hardware market. Nvidia rose 2%, Broadcom added 1%, and AMD gained nearly 1.5%, pushing the semiconductor index to new highs. Meanwhile, Tesla jumped 4% on upbeat delivery projections, and Apple climbed 1%, edging closer to a historic $4 trillion market cap. The rally in mega-cap tech fueled broad market strength, reinforcin ...