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The Financial Express

S&P 500 tops 7,700 for first time, climbs to 7,735.17 as index value exceeds $70 trillion

AI Market Summary
US equities surged as the S&P 500 hit a record above 7,700, supported by strong AI-linked earnings and upbeat guidance (notably Palantir and Caterpillar), lifting tech and semiconductors. Broad earnings beats reinforced confidence in corporate profit resilience. A sharp drop in crude on signs of Middle East de-escalation eased inflation concerns, further underpinning risk appetite, while proposed China data-center import restrictions boosted select US photonics suppliers.
Impact level
● High
Affected assets
NCSISP5002USD/USDT+1.96%
AI Insight · NCSISP5002USD/USDTAI Insight
▲ Bullish
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The S&P 500 rose above 7,700 for the first time, reaching 7,735.17 and gaining 1.77% on the day, with the combined market value of its constituents topping $70 trillion. Palantir jumped 26% after again raising its full-year revenue forecast. Caterpillar advanced 5.8% after lifting its revenue growth outlook on demand tied to AI data-centre construction. The Philadelphia Semiconductor Index (SOX) climbed nearly 5.8%, while crude oil fell below $80.
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