Philadelphia Semiconductor Index

The S&P 500 closed at 7,650.50 after a late-week rebound from 7,500, helped by semiconductor and AI-linked shares. Elevated Treasury yields, oil near $100, tariff uncertainty and Middle East tensions may keep volatility high as traders watch 7,700 and 8,000.

Bitcoin stayed close to $64,250 on Wednesday as most major cryptocurrencies posted modest gains, led by Solana and ether. The crypto market remained comparatively steady while Korean semiconductor shares tumbled and investors awaited Federal Reserve minutes.

Amazon’s strong move and lower oil prices helped support major stock indexes, while semiconductor weakness kept the rally uneven. Strong ISM manufacturing signals put the focus back on the Fed and Friday’s payrolls report.

Tech shares found relief as semiconductor stocks extended a rebound and SpaceX snapped a sharp losing streak ahead of its first quarterly report. Still, crude prices above $90 kept inflation and rate concerns firmly in the background for growth stocks.

The S&P 500 and Nasdaq ended higher as Meta and Nvidia powered another AI-led advance, though lighter volume raised questions about conviction. Bank earnings, June inflation data and congressional testimony from Kevin Warsh now form the next major test for a market trading near record territory.

The S&P 500 and Nasdaq advanced as Broadcom’s extended Apple partnership revived demand for semiconductor names. The Dow pulled back after a fresh record, leaving traders focused on Fed minutes, earnings, and whether momentum can hold.