The New York Stock Exchange, semiconductor stocks performed strongly, Nasdaq and S&P 500 indexes hit record highs again

In the U.S. stock market in New York, the S&P 500 Index and the Nasdaq Composite Index once again hit record highs on the 8th local time. The market views stronger-than-expected employment data as a pillar of the economy, with robust buying centered on semiconductor stocks spreading across the entire technology sector, driving the stock indices higher.

On that day, the S&P 500 Index rose 61.82 points (0.84%) from the previous trading day, closing at 7,398.93 points; the Nasdaq Composite Index increased 440.88 points (1.71%), closing at 26,247.08 points. Both major indices maintained an upward trend for six consecutive weeks. The Dow Jones Industrial Average, mainly composed of large blue-chip stocks, also rose slightly by 12.19 points (0.02%), closing at 49,609.16 points.

The rally behind this is a sign that the U.S. labor market remains solid. Employment indicators stronger than expected can be interpreted as the U.S. economy not cooling sharply. Investors believe that if concerns about economic slowdown ease, corporate performance can also remain relatively stable, leading to renewed inflows of funds into stocks, which are risk assets.

Especially semiconductor stocks, recently regarded as the core pillar of the U.S. stock market rally. As the spread of artificial intelligence and expectations of expanding data center investments continue, the outlook for improved performance of semiconductor companies is boosting investor sentiment across the entire tech sector. The Nasdaq Composite’s larger gain compared to the S&P 500 can also be seen as a result of this concentration of tech stocks.

The market is paying attention to the recognition that the U.S. economy’s fundamental strength exceeds expectations, which may support stock prices in the short term. However, since the indices are already at record highs, future developments such as new employment data, corporate earnings, and whether the semiconductor sector continues to rise are likely to influence the market direction. This trend may persist if the soft landing of the U.S. economy is maintained, but at the same time, the pressure of overvaluation increases, and volatility could also expand.