Stock Market Today: S&P 500 clinches record closing high on Micron-led rally

Investing.com-- The S&P 500 climbed to another closing record Thursday, as a Micron-led surge in chip stocks and stronger economic data stoked sentiment on stocks.) surged nearly 15% to lead chip stocks and the broader market higher after the memory chip delivered blowout guidance for the current quarter following fiscal fourth-quarter results that topped Wall Street estimates.

The firm is one of the biggest memory chip makers in the world, and said it was benefiting greatly from robust AI demand, which ramped up sales of its high-bandwidth memory chips.) failed to join in on the rally after the Wall Street Journal reported that the Department of Justice launched an investigation into the company, sending its shares more than 12% lower.) stock rose over 5% after the carrier raised its revenue-per-capacity guidance for the current quarter and announced a new $2.

Chair Jerome Powell didn't deliver any notable comments on monetary policy on Thursday, though Treasury Secretary Janet Yellen said the labor market suggests that the economy is on a path to a soft landing.) closed sharply higher, supported by a pledge from China to deliver fiscal stimulus to boost the economy and meet the country's roughly 5% growth target.

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