S&P 500 Hits Record High Driven by Broadcom, Chipmakers Amid Rate Cut Hopes
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Moneycontrol•10-01-2026, 08:10
S&P 500 Hits Record High Driven by Broadcom, Chipmakers Amid Rate Cut Hopes
- •The S&P 500 reached a record high close, fueled by strong performances from Broadcom and other chipmakers.
- •Weaker-than-expected U.S. jobs report for December did not deter expectations of Federal Reserve interest rate cuts.
- •Wall Street's main indexes saw sharp gains in 2026's first full trading week, with materials and industrials outperforming.
- •Chip stocks, including Lam Research and Intel, rallied significantly, pushing the PHLX semiconductor index to a record.
- •Vistra jumped after Meta Platforms agreed to buy power from its nuclear plants, highlighting investor focus on AI monetization.
Why It Matters: S&P 500 achieved a record close, propelled by chipmakers and AI optimism, despite a soft jobs report.
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