The S&P 500 rose 1.1% to a record close, the Nasdaq 100 added 1.6% and the Dow gained 0.7%. Chip stocks were the standout after a key equipment maker said demand from data-centre customers remained strong.
What moved the stock
About 70% of S&P 500 companies have so far beaten profit forecasts, according to early tallies, but several large banks cautioned that consumer credit quality is starting to soften.
Single-day moves can overstate what has really changed for a business. Investors typically look at guidance, margins and cash flow over several quarters before revising a view, and many strategists advise against building a position on one headline.
The S&P 500 gained 1.1% on Wednesday, with semiconductor shares jumping after a major supplier raised its outlook.
The numbers behind the move
This article is for information only and is not investment advice. Figures are illustrative and may be delayed or simulated for demonstration purposes.
This article is for information only and is not investment advice.
