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S&P 500 HOLDS NEAR RECORD HIGHS AS TECH BOOST OFFSETS HOT INFLATION DATA

  • NEWS Desk Global
  • May 13
  • 1 min read

The S&P 500 hovered near ​its record highs on Wednesday as chip stocks and megacap tech shares rose, even though hot producer prices data reinforced ‌bets that the Federal Reserve would keep monetary policy restrictive.

Alphabet and Tesla climbed 2.6% and 3.6%, respectively. The Philadelphia SE Semiconductor index was last up 2.3% and testing a new record high, bouncing back from a selloff in the previous session.

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