Stock Market Update

[BRIEFING.COM] The S&P 500 hit a fresh all-time high, trading 0.8% higher now.

High-beta chipmakers have experienced outsized buying interest compared to the broader market after President Trump's $500 billion AI infrastructure announcement, which included Oracle's (ORCL 185.21, +12.61, +7.3%) Chairman Larry Ellison, SoftBank CEO Masayoshi Son, and OpenAI CEO Sam Altman. 

This price action has propelled the PHLX Semiconductor Index (SOX) to its highest level since mid-July, trading 2.4% higher than yesterday. The SOX is 10.6% higher since the start of the year thanks to big gains in NVIDIA (NVDA 146.74, +5.91, +4.2%), which is 9.3% higher this year, Broadcom (AVGO 246.53, +6.22, +2.6%), which is 6.3% higher this year, and others.