US Stock Indices Hit Record Highs as Chip Stocks Rally
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 07 2026
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Source: NASDAQ.COM
- Market Rally: The S&P 500 rose by 0.62%, the Dow Jones Industrial Average increased by 0.99%, and the Nasdaq 100 climbed by 0.94%, with all three indices reaching record highs, reflecting strong investor optimism about economic recovery.
- Chip Sector Surge: Chipmakers and data storage companies led the gains, with Sandisk up over 27% and Western Digital up over 16%, which not only boosted the overall market but also indicated growing investor confidence in technology stocks.
- Copper Prices Soar: Copper prices hit an all-time high amid expectations of potential tariffs on refined copper by the Trump administration, leading to the highest US copper imports since July, which could disrupt global supply chains.
- Economic Data Impact: Despite a downward revision of the December S&P services PMI to 52.5 indicating economic slowdown, the market remains optimistic about upcoming employment data, with December nonfarm payrolls expected to rise by 59,000 and the unemployment rate projected to slightly decline to 4.5%.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
