US WILL INVEST MORE THAN $5 BILLION IN SEMICONDUCTOR R&D

Other megacaps such as Microsoft, Amazon.com, and Alphabet each saw gains of over 1%. The S&P 500 achieved its ninth closing record high of the year, propelled by upbeat earnings and optimism surrounding AI, which has lifted shares of chipmakers and other tech-related firms.

While U.S. monthly consumer prices showed a lower-than-expected rise in December, underlying inflation remained somewhat elevated, presenting a mixed picture that muddled expectations regarding the timing of potential interest-rate cuts by the Fed this year.

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