S&P 500 and Nasdaq Composite close at new highs again
Updated
Updated · Barron's · May 8
S&P 500 and Nasdaq Composite close at new highs again
27 articles · Updated · Barron's · May 8
The indexes logged their 15th and 11th record closes of 2026, with the S&P 500 up 0.8%, the Nasdaq 1.7% and the Dow little changed.
Akamai jumped 26.6%, Sandisk 16.6%, Micron 15.5% and Intel 14%, as AI-driven tech gains and first-quarter results kept lifting markets despite weak market breadth.
FactSet said 84% of S&P 500 companies beat estimates and earnings growth reached 27.7%, while April payrolls of 115,000 and 4.3% unemployment did little to revive rate-cut hopes.
AI’s boom requires immense power and chips, but both are scarce. Will physical limits derail the tech rally?
With war driving oil prices and the Fed holding rates, is the AI-fueled market rally ignoring economic reality?