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U.S. Stocks Close Higher: Nasdaq and S&P 500 Rise for Six Consecutive Weeks, Setting New Records
On May 9, all three major U.S. stock indices closed higher, with the Nasdaq up 1.71%, marking a weekly gain of 4.51%; the S&P 500 rose 0.84%, with a weekly increase of 2.33%; and the Dow Jones increased by 0.02%, with a weekly gain of 0.22%. The Philadelphia Semiconductor Index surged over 5.51%, accumulating an 11.14% increase for the week. Notably, the Nasdaq and S&P 500 have risen for six consecutive weeks, the longest streak since October 2024, and both indices reached new highs. Leading the charge were storage chip stocks, with SanDisk rising over 16%, Micron Technology up more than 15%, Intel increasing nearly 14%, and Seagate Technology gaining over 2%, all reaching new highs. Dell Technologies saw an increase of over 13%, following comments from Trump urging, ‘Go buy a Dell computer.’ Akamai surged over 26%, marking its best single-day performance since 2004. Rocket Lab jumped over 34%, achieving the largest single-day increase for a U.S. IPO. Monster Beverage Corp. (MNST) soared over 13%, its largest single-day gain since 2015. Forward Air Corp. (FWRD) fell over 43%, marking its worst single-day performance since 1999.