S&P 500 and Nasdaq notch records, boosted by AI and earnings optimism
Strong AI-related gains and resilient hiring helped the S&P 500 and Nasdaq set records as investors looked past Middle East tensions.
- On Friday, May 8, 2026, the S&P 500 and Nasdaq Composite notched record highs, with the S&P climbing 0.84% to 7,398.51 and the Nasdaq jumping 1.70% to 26,243.84. The indices marked their sixth consecutive weekly gain, the longest streak since October 2024.
- Strong earnings from AI-related heavyweights Nvidia and Sandisk, combined with an April jobs report showing unemployment steady at 4.3%, fueled the rally and reinforced expectations for steady Federal Reserve interest rates.
- The Philadelphia SE Semiconductor index surged roughly 54% in the second quarter amid strong AI data center demand, while Cloudflare plunged after announcing a 20% workforce cut and Expedia declined as Middle East conflict hurt travel demand.
- Despite the equity rally, Brent crude climbed above $100 a barrel as hopes faded for quick Middle East resolution. The U.S. Central Command reported Thursday that it intercepted "unprovoked" Iranian attacks on Navy ships in the Strait of Hormuz.
- Rob Williams, chief investment strategist at Sage Advisory Services in Austin, Texas, said "this is an economy that seems hard to wreck," citing productivity, spending, consumer wealth, and earnings as underpinning sustained market resilience.
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Stocks Hit Records After Solid Jobs Report
The US stock market rose to records Friday following the latest sign that the nation's job market is doing better than economists expected. The Dow rose 12.19 points, or less than 0.1%, to 49,609.16, closing the week up 0.2%. The S&P 500 rose 61.82...
AI, earnings and jobs data push stock indexes to more new highs
NEW YORK — The S&P 500 and the Nasdaq notched record highs to close the trading week May 8, boosted by gains in stocks tied to the artificial intelligence boom, while a stronger-than-expected jobs report pointed to labor market resilience.
Stock Market Today, May 8: Nasdaq Gains 1.7% on AI Demand and Strong Jobs Data
The S&P 500 (SNPINDEX:^GSPC) rose 0.76% to 7,392.56, the Nasdaq Composite (NASDAQINDEX:^IXIC) jumped 1.71% to a record 26,247.08, and the Dow Jones Industrial Average (DJINDICES:^DJI) inched up 0.02% to 49,609.16 as strong jobs data and AI leaders drove gains.Market moversMicron Technology extended its surge, rising 16% as memory stocks continued to gain. Intel rallied on reports of a preliminary chip-manufacturing deal with Apple. On the downsi…
S&P 500, Nasdaq hit records as AI stocks surge | Honolulu Star-Advertiser
The S&P 500 and the Nasdaq notched record highs today, boosted by gains in Nvidia, Sandisk and other AI-related stocks, while a stronger-than-expected jobs report pointed to labor market resilience.
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