S&P 500 closes at record high as tech rallies
Business
The S&P 500 closed at a record high on Thursday, thanks to big gains in tech and fewer worries about Federal Reserve interest rate hikes.
July's steady inflation numbers helped calm investors, making Wall Street feel a bit more optimistic.
Nasdaq up, Netflix rises, Cisco slips
The Nasdaq jumped 0.81%, and the Dow edged up too, while oil prices dipped slightly and unemployment claims ticked up just a bit.
Netflix shares got a boost after Bill Ackman invested in the company, but Cisco slipped because its revenue outlook didn't meet expectations.
Strong forecasts from Microsoft and Amazon kept investor spirits high despite earlier concerns about costly AI spending.