S&P 500 Hits Record High Amid Strong GDP Data and Chip Stock Surge

U.S. stocks soar as Micron's earnings and China's economic stimulus boost investor confidence.

The S&P 500 closed at a record high of 5,745.39, driven by positive economic data and strong performances in the chip sector.
Micron's upbeat earnings report led to a 15% surge in its stock, lifting other semiconductor stocks such as AMD, Qualcomm, and Intel.
China announced new economic stimulus measures, boosting Chinese-tied U.S. equities and setting the CSI 300 on track for its best week in a decade.
U.S. GDP growth for the second quarter was revised to 3%, exceeding Wall Street expectations, and weekly jobless claims fell to a four-month low.
Super Micro Computer's stock plummeted 12% following news of a Department of Justice probe into its business practices.