Chip Stock Rally Lifts Broader Market Amid Strong Earnings Outlook
The broader market saw gains led by a rally in chip and AI infrastructure stocks, supported by positive economic data showing continued expansion of the service sector. The S&P 500 rose 0.6%, while the Nasdaq surged over 1.5%. Analysts expect strong Q2 earnings growth driven largely by increased spending on artificial intelligence.
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Topics: AI infrastructure chip stocks Nasdaq S&P 500 US economy